Perrigo Co Plc Stock Price, News & Analysis

Perrigo Company plc (NYSE: PRGO) announced a scheduling update for its third quarter financial results call to November 4, 2020, at 4:30 p.m. (EST), following a notice from the Irish High Court regarding a pending judicial review of a €1.6 billion assessment by Irish Revenue. The company asserts the assessment is without merit and intends to challenge it. The outcomes of the court's decision may influence the company's financial implications, and no payment is required until all determinations are resolved.

Perrigo Company plc (NYSE; TASE: PRGO) has declared a quarterly dividend of $0.225 per share, set to be paid on December 15, 2020. Shareholders of record by November 27, 2020 will be eligible for this payment. Perrigo is recognized for providing Quality, Affordable Self-Care Products, leading in the OTC market with over 9,000 SKUs. Despite broader economic uncertainties due to COVID-19, the company maintains a strong position in the consumer health sector.

Perrigo Company plc (NYSE: PRGO) will release its third quarter financial results on November 4, 2020. A conference call is scheduled for 8:00 a.m. (EST) on the same day, allowing investors to engage and hear insights directly from the management. Perrigo is recognized as a leading provider of Quality, Affordable Self-Care Products and is the largest store brand OTC player in the U.S. The company also has a significant presence in Europe, ranking among the top five OTC companies by revenue.

Perrigo Company plc (NYSE; TASE: PRGO) announced a voluntary recall of albuterol sulfate inhalation aerosol due to clogging complaints. This follows the halting of production and distribution. The recall is part of corrective actions, but a timeline for reintroduction is not set. The company anticipates a charge of approximately $18 million to $22 million in Q3 2020 but maintains its fiscal year 2020 adjusted EPS guidance of $3.95 to $4.15, attributing stability to strong consumer demand in its self-care segments. Sales of the inhalation aerosol ceased in late August 2020.

Perrigo's Steripod brand highlights the importance of maintaining oral health as schools reopen amid COVID-19. They advocate for regular toothbrush replacement every 90 days, as recommended by the ADA, to combat airborne illnesses. Greg McCormick, Senior VP of Global Innovation and Technology, emphasizes the need for protecting toothbrushes from contaminants. Key tips include replacing brushes during illness and using Steripod protectors. Perrigo's dedication to quality self-care products is underscored, with a focus on empowering consumers to manage their health proactively.

Perrigo Company plc (NYSE: PRGO) announced the launch of its store brand equivalent of Voltaren Arthritis Pain, now available nationwide in the U.S. This topical gel, containing diclofenac sodium 1%, is the first store brand ANDA approved by the FDA for OTC use. Previously, generic prescription sales of Voltaren exceeded $250 million annually. The launch highlights Perrigo's OTC self-care platform, aimed at providing high-quality alternatives in self-care categories.

Perrigo Company (NYSE; TASE: PRGO) announced its participation in the Barclay's Global Consumer Staples Conference on September 9, 2020, with CEO Murray S. Kessler and CFO Ray Silcock hosting virtual one-on-one meetings.

Additionally, Kessler is set to present at the 18th Annual Morgan Stanley Global Healthcare Conference on September 17, 2020, at 8:45 am EST. The presentation will be accessible via a webcast on Perrigo's investor relations site.

Perrigo Company plc (NYSE: PRGO) has announced the acquisition of three OTC skincare and hair loss treatment brands—Emolium®, Iwostin®, and Loxon®—from Sanofi for approximately €21 million ($23 million). This strategic move aims to enhance Perrigo's self-care portfolio and strengthen its presence in the Eastern European market. The transaction, expected to close in Q4 2020, aligns with Perrigo's growth strategy focused on margin enhancement and market expansion. CEO Murray S. Kessler emphasized this acquisition will deliver shareholder value and bolster their product offerings.

Perrigo Company plc (PRGO) reported a strong performance in Q2 2020, with consolidated net sales of $1.2 billion, up 6.1% year-over-year. Adjusted diluted EPS rose 19.8% to $1.03. The company reaffirmed its fiscal 2020 outlook, projecting net sales growth of 6% to 7% and adjusted EPS between $3.95 and $4.15, despite challenges from COVID-19 costs. Consumer Self-Care Americas net sales increased 7.8% to $628 million, driven by e-commerce growth and strong demand for essential products.