Perrigo Trims Workforce, Ships Tysabri License, Stays European Course
Executive Summary
The firm is reducing its non-production workforce by 750, a decision made after three representatives of disgruntled investor Starboard Value joined its board. Perrigo charts a course of recovery for its struggling international consumer health business, but some analysts are convinced it took a wrong turn with its 2015 investment in European OTC drug and nutritional product businesses and brands.
You may also be interested in...
Perrigo Paying $309M To Settle $1.9Bn Irish Tax Assessment From Elan Merger
OTC private label/store brand giant announces Irish authorities allow it to pay $308.7m to settle a $1.9bn assessment for back taxes ordered in 2018 linked to Rx ingredient royalty rights it gained in its 2103 merger with Elan.
No Decisions Yet In Perrigo's Disputes With Ireland, US Over Tax Questions From Elan Merger
A court in Dublin has considered Perirrgo's challenge to Ireland tax authorities' ’ 2018 order to pay $1.9bn additional taxes from its 2013 acquisition of Elan that established it as an Irish firm. “We're just probably within 6 months now that we should get some kind of an answer in that regard,” says CEO Murray Kessler.
Perrigo Returns To 'Model' For Success, Expects Surprises From 2020 Launches
Perrigo "walked away a little bit" from "a model that worked beautifully," says CEO Murray Kessler at investor conference, "In essence, all we've done over the last year is to put back in place the model that worked so well."