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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 (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.