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Infant Formula Production Expansion Brings Problems Souring Perrigo's 2024 Forecast

 
• By Malcolm Spicer

Perrigo doesn’t attempt to diminish significance of challenge to regain sales growth in formula market as it resets its plants. Analysts see formula business as only current impediment to stronger results.

• Source: Shutterstock

The $170m deal Perrigo Company PLC made 16 months ago to expand its infant formula production capacity also brought the heaviest drag on the firm’s earnings due to extensive remediation needed at the facility it acquired.

Perrigo executives didn’t obscure or otherwise attempt to diminish the significance of the challenge to restarting sales growth in the formula market during the Dublin-based firm’s briefing for its latest...

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