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.
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Perrigo Company plc (NYSE: PRGO) announced plans to release its first quarter 2023 financial results on May 9, 2023, accompanied by a conference call at 8:30 A.M. (EST). The conference call will be accessible via live webcast on Perrigo's investor relations website. A taped replay will be available from 12:00 P.M. (EST) on May 9 until midnight on May 16, 2023.
Perrigo focuses on Consumer Self-Care Products and over-the-counter health solutions, aiming to empower consumers in managing their health independently. The company warns that the earnings report may include forward-looking statements, which are subject to various risks and uncertainties.
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Perrigo Company plc (NYSE: PRGO) announced a rescheduled FDA meeting set for May 9-10, 2023, to review their application for the Opill® daily oral contraceptive for over-the-counter (OTC) availability. If approved, Opill® would be the first OTC daily birth control pill in the U.S. This initiative is supported by key medical organizations advocating for increased access to contraception. The establishment of a dedicated Women's Health strategic organization reflects Perrigo's commitment to addressing women's health needs, aiming to empower individuals with affordable contraceptive options.
Perrigo Company plc (NYSE: PRGO) announced that its President and CEO, Murray S. Kessler, along with CFO Eduardo Bezerra, will present at the 12th Annual UBS Global Consumer and Retail Conference on March 15, 2023, at 3:00 PM EST in New York City. The presentation aims to discuss their consumer self-care products and OTC health solutions.
Interested parties can access the live presentation via the Perrigo website at http://perrigo.investorroom.com/events-webcasts. For more information on the company, visit www.perrigo.com.
Perrigo Company plc (NYSE: PRGO) announced FDA approval for its Acetaminophen and Ibuprofen Tablets, 250 mg/125 mg, an over-the-counter equivalent to Advil Dual Action Tablets. This approval, received on the first day after Advil's marketing exclusivity expiration, showcases Perrigo's regulatory competency. The company plans to launch the product in Spring 2023. Retail sales for the national brand reached approximately $69 million in the past year. This dual-action formulation is designed to relieve various pain symptoms, reinforcing Perrigo's position in the consumer health market.
Perrigo Company plc (NYSE: PRGO) announced its Optimize and Accelerate strategic plan during its Virtual Investor Day, aiming for long-term profitable growth through 2025. The leadership team, including CEO Murray S. Kessler, highlighted initiatives to enhance commercial operations and drive organic growth of at least 3%. Key goals include achieving an adjusted gross margin of at least 40% and reducing net leverage to less than 3x adjusted EBITDA. Financial guidance for 2023 includes a reported net sales growth of 7% to 11% and adjusted diluted EPS between $2.50 and $2.70. The strategy emphasizes innovation, portfolio optimization, and strong cash generation to enhance shareholder value.
Perrigo reported strong fiscal year 2022 results with net sales of $4.5 billion, up 7.6% year-over-year. Fourth-quarter net sales increased 4.6% to $1.2 billion, with significant growth from both Consumer Self-Care segments. The company achieved a 33.1% gross margin, a 170 basis points improvement from 2021. Despite a reported EPS loss of ($0.09) in Q4, adjusted EPS rose 25% to $0.75. Perrigo's cash reserves reached $601 million, with a cash conversion ratio exceeding 110%. The acquisition of HRA contributed positively to sales, with a virtual Investor Day planned for February 28, 2023, to discuss future strategies.