Welcome to our dedicated page for Perrigo news (Ticker: PRGO), a resource for investors and traders seeking the latest updates and insights on Perrigo stock.
Perrigo Company plc reports recurring developments as a pure-play consumer health company focused on over-the-counter self-care products, store-brand private label offerings, and branded health and wellness products primarily in North America and Europe. Company updates cover operating results from continuing operations, category performance, dividends, investor presentations, and portfolio actions under its Three-S plan to stabilize, streamline, and strengthen the business.
News also addresses Perrigo's product-category reporting and brand momentum across Self Care and Specialty Care, including names such as Opill®, Mederma®, Compeed®, EllaOne®, and Jungle Formula®. Recent corporate developments include the completed divestiture of the Dermacosmetics business and the use of portfolio proceeds for balance-sheet debt reduction.
Perrigo Company plc (NYSE: PRGO) addressed recent misleading commentary regarding the ranitidine (Zantac) litigation. On August 4, 2022, Perrigo was dismissed from the Bayer v. Boehringer Ingelheim case, which barred re-filing claims against them. The company clarified that litigation claims against it were misrepresented. Perrigo maintains strong defenses against these claims, supported by scientific evidence negating a cancer link. The company has successfully dismissed numerous related cases and remains committed to defending against all unfounded claims.
Perrigo reported second-quarter 2022 net sales of $1.1 billion, a 14.3% increase year-over-year, or 20.2% excluding currency impacts. Organic net sales rose 17.2%, driven by strong demand for consumer self-care products. Gross margins reported at 33.2%, with adjusted gross margins at 36.5%. Despite a reported net loss of ($0.48) per diluted share, adjusted EPS was $0.43. Perrigo raised its fiscal 2022 organic growth guidance to 9.0%-10.0% but updated adjusted EPS outlook to $2.25-$2.35 due to currency translation challenges.
Perrigo Company plc (NYSE: PRGO) declared a quarterly dividend of $0.26 per share, scheduled for payment on September 20, 2022. Shareholders on record as of September 2, 2022 will be eligible. This announcement reflects the company's commitment to providing shareholder returns amidst a challenging market environment.
Perrigo offers a range of Consumer Self-Care Products and aims to empower consumers in managing their wellness proactively.
Perrigo Company plc (NYSE: PRGO) is set to release its second quarter 2022 financial results on August 9, 2022, with a conference call scheduled for 8:30 A.M. EDT. The call will be accessible via webcast on the investor relations section of the Perrigo website. A replay will be available shortly after the call until August 16, 2022.
Perrigo is a leading provider of Consumer Self-Care Products and OTC health solutions, focusing on enhancing individual well-being.
Perrigo Company plc (NYSE: PRGO) announced that HRA Pharma has submitted an application to the FDA for the first-ever over-the-counter birth control pill, Opill®. This progestin-only pill aims to increase contraceptive access in the U.S., potentially reducing the high rate of unintended pregnancies, which number over 6.1 million annually. Major medical organizations support this initiative, underscoring its significance in reproductive health. If approved, Opill® would be the first OTC daily birth control pill available without a prescription in the U.S.
Perrigo Company plc (NYSE: PRGO) has appointed Ms. Alison Ives as Executive Vice President and Chief Scientific Officer. Ms. Ives will oversee global research and development and regulatory efforts, joining the Company’s Operating Committee. CEO Murray S. Kessler emphasized her 20 years of experience, highlighting her role in enhancing Perrigo's product portfolio, which now has over $500 million in potential revenue. Ms. Ives expressed confidence in delivering innovation with her team at Perrigo, reinforcing the company's commitment to consumer self-care.
Perrigo Company plc (NYSE: PRGO) announced that President and CEO Murray S. Kessler and CFO Eduardo Bezerra will engage in investor meetings at the Credit Suisse HALO Investment Summit in New York City on May 25, 2022, with no formal presentation planned.
Kessler is also set to virtually present at the Oppenheimer Consumer Growth and E-Commerce Conference on June 15, 2022, at 9:45 AM EDT. Interested parties can access webcasts via the Perrigo website. Perrigo is a leading provider of consumer self-care products, ranking as the largest store brand OTC player in the U.S.
Perrigo reported first quarter 2022 net sales of $1.1 billion, reflecting a 6.4% increase from the previous year, with organic growth at 9.7%. The loss per diluted share was $0.01, compared to an earnings per share of $0.02 last year. Adjusted diluted EPS dropped to $0.33 from $0.50, impacted by cost headwinds and foreign exchange fluctuations. The acquisition of HRA Pharma bolstered sales expectations, prompting an increase in fiscal 2022 net sales growth guidance to 8.5%-9.5% from 3.5%-4.5%.
Perrigo Company plc (NYSE: PRGO) has announced the succession of its executive leadership team. Eduardo Bezerra will become Chief Financial Officer on May 16, 2022, succeeding Ray Silcock, who will retire on July 15, 2022. Todd Kingma, the current EVP and General Counsel, will retire on August 31, 2022, with Kyle Hanson named as his successor, effective June 1, 2022. CEO Murray Kessler emphasized that these appointments are essential to advancing Perrigo's consumer self-care strategy and operational excellence.
Perrigo Company plc (NYSE: PRGO) declared a quarterly dividend of $0.26 per share, set for payment on June 21, 2022, to shareholders on record as of June 3, 2022. As a prominent global provider of Consumer Self-Care Products, Perrigo continues to lead in the OTC market in the U.S. and ranks among the top players in Europe. This dividend is a demonstration of the company's commitment to returning value to its shareholders and indicates confidence in its ongoing business strategy.