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) has successfully completed the sale of its Generic Rx Pharmaceuticals business to Altaris Capital Partners, LLC for $1.55 billion. This strategic divestiture marks a significant milestone in Perrigo's transformation into a leading global consumer self-care entity. CEO Murray S. Kessler emphasized the company's commitment to enhancing self-care product offerings, which has positioned Perrigo as the largest store brand OTC player in the U.S. and a top OTC company in Europe. The company aims to leverage its resources for future growth.
Perrigo Company plc (NYSE: PRGO) announced that President and CEO, Murray S. Kessler, along with CFO, Ray Silcock, will participate in several investor meetings. These include the Barclays Consumer Spring Symposium on May 25, the Oppenheimer 21st Annual Consumer Growth and Ecommerce Conference on June 16 at 9:05 AM EDT, and the Evercore ISI Consumer & Retail Summit on June 17 at 2:45 PM EDT. Investors can find webcasts of these presentations on Perrigo's website.
Perrigo Company plc has agreed to sell its over-the-counter (OTC) businesses in Mexico and Brazil to Advent International. This strategic move aims to enhance margins and is part of Perrigo's Project Momentum cost savings initiative. The sale, expected to finalize in the second half of 2021, follows a review indicating insufficient scale in Latin America. In FY2020, these businesses generated $85 million in sales but were considered dilutive to Perrigo's growth targets. The transaction is anticipated to be margin accretive, with no impact on adjusted diluted earnings per share for 2021.
Perrigo Company plc (PRGO) reported Q1 2021 net sales of $1.01 billion, down 6.8% year-over-year due to pandemic-related pantry loading. Cough/cold season impacts led to a 10.9% decline in organic growth. Adjusted diluted EPS decreased 25.4% to $0.50, compared to $0.67 in Q1 2020. The company reaffirmed its fiscal 2021 outlook, targeting 3% organic sales growth and $2.50-$2.70 adjusted EPS. New partnerships and increased retail foot traffic are expected to support a strong second half of the year.
Perrigo Company plc (NYSE; TASE: PRGO) will announce its fiscal first quarter financial results on May 11, 2021. There will be a conference call at 8:00 a.m. (EDT) to discuss these results, accessible via webcast or phone. Perrigo is the largest store brand OTC player in the U.S. and is also a top OTC company in Europe, offering over 9,000 SKUs and 200 branded products. The release emphasizes the company's commitment to affordable self-care products, while also providing a cautionary note about potential risks affecting future performance.
Perrigo Company plc (NYSE: PRGO) announced a quarterly dividend of $0.24 per share, set for payment on June 22, 2021 to shareholders of record by June 4, 2021. As a prominent provider of quality self-care products, Perrigo is a leader in the U.S. store brand OTC market and is among the top five OTC companies in Europe, with over 200 branded products across 28 countries. The announcement reflects the company's ongoing commitment to returning value to its shareholders while maintaining significant market presence.
Perrigo Company plc (NYSE: PRGO) reported fourth quarter and fiscal year 2020 results, marked by a consolidated net loss of $175 million, translating to a loss of $1.29 per diluted share, against a loss of $19 million or $0.14 per diluted share in Q4 2019. Consolidated net sales decreased by 2.5% to $1.3 billion, heavily impacted by a 5% decline in cough/cold sales. For fiscal 2020, net sales increased by 5% to $5.1 billion, driven by strong e-commerce growth and new product sales. The company expects 3% organic net sales growth and adjusted EPS growth of 7% in 2021.
Perrigo Company plc (NYSE: PRGO) announced a definitive agreement to sell its Generic Rx Pharmaceuticals business to Altaris Capital Partners for $1.55 billion, which includes $1.5 billion in cash. This strategic move aims to transform Perrigo into a pure-play global consumer self-care company with projected revenues over $4 billion. After the deal, Perrigo expects to have more than $2 billion in cash to advance its strategy. The transaction is anticipated to close by Q3 2021 and will enhance Perrigo’s financial predictability and flexibility.
Perrigo Company plc (NYSE: PRGO) announced a 7% increase in its quarterly dividend to $0.24 per share, up from $0.225. This marks the 18th consecutive year of dividend increases. The dividend is payable on March 30, 2021, to shareholders of record by March 12, 2021. As a leading provider of Quality, Affordable Self-Care Products, Perrigo emphasizes its commitment to reward shareholders while navigating potential risks such as economic impacts from COVID-19 and regulatory challenges.
Perrigo Company plc (NYSE; TASE: PRGO) has announced the release of its fourth quarter and full year 2020 financial results on March 1, 2021, at 8:00 a.m. (EST). A conference call will follow, accessible via webcast on the Perrigo website or by phone. The company is a leading provider of self-care products and over-the-counter health solutions, holding a significant market share in the U.S. and Europe. Forward-looking statements highlight potential risks, including impacts from the COVID-19 pandemic, competition, and regulatory challenges.