Supplements Part Of The Past As Perrigo Frames Future Around Rejecting Mylan Tender

 
• By Malcolm Spicer

The OTC private label leader says its supplement business will be the first asset it sells as it begins a streamlining process, which also includes supply chain consolidation and staff reductions, aimed at $35m in annual cost savings.

Perrigo Co. PLC puts its dietary supplement business on the block, pointing past a company record of $1.34bn net sales in its latest quarter, including $977m from consumer health products, to sway shareholders against Mylan NV’s hostile takeover bid.

The OTC private label giant on Oct. 22 also directly criticized Mylan’s tender during its calendar 2015 third-quarter earnings briefing...

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