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Perrigo Trims Workforce, Ships Tysabri License, Stays European Course

 
• By Malcolm Spicer

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.

The absence of final fourth-quarter and full-year earnings figures doesn’t stop Perrigo Co. PLC from offering plenty of information on its turnaround plans and its board shakeup nor deter analysts from noting concerns about the firm’s outlook.

While the OTC drug, nutritionals, Rx topical generics and active pharmaceutical ingredient firm charts a course of recovery for its...

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