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 2
Another impact came from several Perrigo customers making the “strategic decision to exit infant formula,” Kessler said but did not identify the firms. Perrigo is the largest supplier of store-brand infant formulas, producing formula for major retailers including Walgreens Boots Alliance Inc