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Perrigo Q3

This article was originally published in The Tan Sheet

Executive Summary

Consumer Healthcare sales for the third quarter of fiscal 2006 (ended March 25) were up nearly 10% to $241.2 mil. compared to $219.7 mil. a year ago, Perrigo announces April 27. The increase occurred despite a $26 mil. decrease in sales of cough/cold products containing pseudoephedrine. The impact of pseudoephedrine declines was offset by the addition of topical product sales of $16 mil. from the recently acquired Israeli firm Agis. Effects from lower cough/cold sales also were offset by new product gains in smoking cessation and higher vitamin sales, Perrigo states. "Because of the new products, fourth quarter profitability should be in line with historical levels despite increased costs for the large number of cough/cold product reformulations," Perrigo Chairman, President and CEO David Gibbons stated. Net sales for the third quarter were up 51% to $332.3 mil. from $220.1 mil. last year...

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