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Infant Formula Woes Turn Perrigo's Q2 Sour Despite Solid Americas’ OTC Sales

 
• By Eileen Francis

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.

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.

Despite the strength of its OTC drug sales during the second quarter, consumer product results in the Americans region slipped...

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