Perrigo Adds Good Start Brand In $230M Statement On Boosting Infant Formula Production Capacity
Good Start formula line marketed in US and in Canada will move to Perrigo from Nestle along with a formula plant in Wisconsin, where Perrigo will expand current 29mil pound annual production capacity to 36m within 18 months. Good Start available in US as part of iconic Gerber brand and under Nestle brand in Canada.
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Strong cough/cold season forecast bodes well for upper respiratory and other OTCs Perrigo provides as private label and store brand products, but it isn’t expecting to capitalize in the Americas due to lingering impacts from supply chain and production disruptions linked to the COVID-19 pandemic.
FDA decision on Perrigo subsidiary’s proposal for first US OTC daily oral contraceptive is extended 90 days with the postponement of an advisory panel meeting. Agency requested additional information related to OTC switch application of 0.075-mg norgestrel initially submitted in July.
Abbott’s Q3 worldwide sales of formula and other pediatric nutritionals were down 24.8% on reported basis. It plans spending $500m on a new formula facility after finding the US “would benefit from more manufacturing capacity and redundancy.”