Perrigo

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Perrigo Company plc
Type Public
Traded as NYSEPRGO
TASEPRGO
S&P 500 Component
Industry Pharmaceutical
Founded 1887
Headquarters Allegan, Michigan, USA
Key people Joseph C. Papa, Chairman, President and CEO
Products OTC, RX, API, Medical Diagnostic, pharmaceuticals
Revenue Increase $3,540 million (2013)[1]
Operating income Increase $805 million(2013)
Net income Increase $ 530 million (2013)
Employees 7,250 (2009)
Website www.perrigo.com

Perrigo Company plc is a large Irish manufacturer of private label over-the-counter pharmaceuticals.[2] The company’s shares are traded on the NYSE and the Tel Aviv Stock Exchange; as a result of the merger with Agis Industries the company is a constituent of the TA-25 Index. Perrigo is the only non-Israeli company on the TA-25.

Perrigo Company plc, through its wholly owned subsidiaries, engages in the manufacture and sale of consumer healthcare products, generic prescription drugs, active pharmaceutical ingredients (API), and consumer products primarily in the United States, Australia, Israel, Europe, India and Mexico.

History[edit]

Black and white photo of L.Perrigo Co. Aspirin tablets

The L. Perrigo Company was founded in 1887 in Allegan, Michigan, by Luther and Charles Perrigo, who ran a country general store .[3] In 1991 Perrigo had an Initial public offering on NASDAQ.

In March 2005 the firm acquired Agis Industries Ltd. (TASE:AGIS), an Israel based generic pharmaceuticals company in an $850 million transaction. Agis was founded in 1983 by Moshe (Mori) Arkin who developed his father's small drug import business into a multinational generic pharmaceutical company. As a result of the acquisition Arkin owns 9% of Perrigo, and was appointed as Vice Chairman of the company.[4]

Acquisitions[edit]

On 9 January 2008, the firm acquired Galpharm Healthcare, Ltd., a supplier of over-the-counter store brand pharmaceuticals in the United Kingdom.[5] On 16 September 2008, the firm acquired J.B. Laboratories.[6] On 6 October 2008, it acquired Laboratorios Diba S.A., enabling the company to market its products in Mexico.[7] On 13 November 2008, it acquired Unico Holdings, a manufacturer of store brand pediatric electrolytes, enemas and feminine hygiene products for retail consumers in the U.S.[8]

On 1 March 2010, the firm acquired Orion Laboratories Pty, Ltd. a supplier of over-the-counter (OTC) store brand pharmaceutical products in Australia and New Zealand.[9] On 23 March 2010, it acquired PBM Holdings, Inc.,a producer of over-the-counter store brand infant formula and baby foods in the United States, Canada, Mexico and China.[10]

On 20 January 2011, the firm announced that it would acquire Paddock Laboratories Inc., with the deal expected to close in fiscal 2012.[11]

In September 2012, Perrigo announced its intention to enter the animal wellness category by acquiring the assets of Sergeant's Pet Care Products, Inc., a privately held manufacturer of over-the-counter companion animal healthcare products. [12]

On 11 February 2013, Perrigo announced the completion of the acquisition of Rosemont Pharmaceuticals Ltd., a specialty and generic prescription pharmaceutical company focused on the manufacturing and marketing of oral liquid formulations. [13]On 29 July 2013, the firm announced that it would acquire Élan, a major drugs firm based in Dublin.[14][15]

Segments[edit]

The company operates in three segments; Consumer Healthcare, Rx Pharmaceuticals, and Active Pharmaceutical Ingredients. The Consumer Healthcare segment produces over-the-counter pharmaceutical and nutritional products in the United States, the United Kingdom, and Mexico. This segment offers analgesic, cough/cold/allergy/sinus, gastrointestinal, smoking cessation, first aid, antacids, hemorrhoidal remedies, motion sickness, sleep aid products, feminine hygiene products, vitamin, and nutritional supplement products.

The Rx Pharmaceuticals segment produces generic prescription drugs in the United States. This segment provides creams, ointments, lotions, gels, and solutions, as well as nasal sprays, foams, and transdermal devices.

The Active Pharmaceutical Ingredients segment produces pharmaceutical ingredients in Israel with sales to customers worldwide. The company also offers cosmetics, toiletries, detergents, manufactured and imported pharmaceutical products, and medical diagnostic products. The company’s customers include national and regional retail drug, supermarket, wholesalers, and mass merchandise chains.

Management[edit]

Joseph C. Papa is the Chief Executive Officer and President.[16]

Awards[edit]

101 Best and Brightest Companies to Work For of West Michigan awarded Perrigo overall “Best of the Best” for 2009.[17]

In 2010 Perrigo was named one of the top 100 Fastest-Growing Companies by Fortune Magazine.[18]

References[edit]

  1. ^ Jones, Al (16 August 2011). "Perrigo Co. reports strong gains in sales and earnings for fourth quarter and full year". Mlive.com (Allegan). Kalamazoo Gazette. Retrieved 20 August 2011. "Sales for the full year were $2.75 billion, up about 21.5 percent from $2.26 billion in fiscal 2010." 
  2. ^ Wilton, Bill (2008-10-16). "Perrigo Company". Zacks Investment Research. Company Description. Archived from the original on 2008-10-22. 
  3. ^ "Perrigo Company - Company History", Funding Universe, retrieved 2009-10-31 
  4. ^ dedFiles/Investors/Press_Releases/news_ir_114.11.15%20Perrigo%20to%20Acquire%20Agis.pdf Perrigo Company to Acquire Agis Industries, Creating A Leading Diversified Healthcare Company, Company press release, retrieved 2009-10-31 
  5. ^ http://www.perrigo.com/uploadedFiles/Investors/Press_Releases/PRGOPR(11).pdf
  6. ^ "Official Perrigo Company Press Release" (PDF). Retrieved 2012-03-13. 
  7. ^ "Official Perrigo Company Press Release" (PDF). Retrieved 2012-03-13. 
  8. ^ http://www.perrigo.com/uploadedFiles/Investors/Press_Releases/UNIPR.pdf
  9. ^ http://www.perrigo.com/uploadedfiles/Investors/Press_Releases/ORION.pdf
  10. ^ http://www.perrigo.com/uploadedFiles/Investors/Press_Releases/PBMCLS.pdf
  11. ^ http://www.perrigo.com/uploadedFiles/Investors/Press_Releases/110119%20Paddle%20PR%20v9%20-%20FINAL%20CHANGES.pdf
  12. ^ "Perrigo Closes Acquisition Of Sergeant's Pet Care Products". Perrigo Company. 
  13. ^ "Perrigo Company Acquires U.K.-based Rosemont Pharmaceuticals Ltd. For Approximately £180 Million Or $283 Million". 
  14. ^ Perrigo kauft irische Pharmafirma Elan
  15. ^ US drugmaker Perrigo to buy Ireland's Elan for $8.6bn
  16. ^ http://www.perrigo.com/about/corporate-governance.aspx
  17. ^ "West Michigan 2009 Winners". 101 Best and Brightest Companies To Work For. West Michigan Region. Archived from the original on 2014-02-21. 
  18. ^ "100 Fastest-Growing Companies 2010 - from FORTUNE". Money.cnn.com. 2010-09-06. Retrieved 2012-03-13. 

External links[edit]