Perrigo Sales Reach Record Highs Despite Manufacturing Restrictions
This article was originally published in The Tan Sheet
Executive Summary
Acquisitions and new products helped Perrigo grow quarterly revenue 23% to $718 million, despite manufacturing restraints related to an FDA warning letter.
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Perrigo Feels Ill Effects Of Mild Cold Season, Excess OTC Capacity
The private labeler lowered its full-year revenue guidance, noting weak cough/cold/flu OTC sales. Perrigo built up excess capacity to take advantage of recalled Johnson & Johnson OTCs, and now is shifting some capacity in response to a Novartis plant shutdown.
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