Perrigo CEO Seeks To Check Negative Stock Response

Perrigo CEO Joseph Papa tries to reassure analysts that the acquisition of Elan in July did not signal a shift in strategy, but rather an opportunity to better fund the firm’s core strategy to grow through category and geographic expansion. Key categories include ophthalmology, adult nutrition and products for diabetics.

With Perrigo Co. PLC’s stock price still depressed more than a month after it announced the acquisition of biotech Elan Corp. PLC, CEO Joseph Papa tried to reassure analysts that the private labeler remains committed to its long-held strategy for growth through category and geographic expansion.

When Perrigo announced the acquisition of Irish drug maker Elan for $6.7 billion July 29, it sent the firm’s stock...

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