Perrigo Co. PLC’s move to becoming an entirely consumer health, or "self care" firm hit a few bumps in its latest quarter as its infant formula revenues plunged on a recall and a loss of some customers and as its exit from the Rx generics market was delayed.
Infant Formula Woes Turn Perrigo's Q2 Sour Despite Solid Americas’ OTC Sales
Perrigo reports 4% Q2 sales growth for OTC drugs in the Americas region was offset by nearly 15% drop in infant formula sale. Total consumer sales in the Americas slipped 2.5% to $582m, but CEO Murray Kessler says brighter days are ahead on benefits from Ranir oral care acquisition.
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