Perrigo Company PLC produces more than 65bn doses of drugs annually and around 2,000 of those on average are used every second of a day, but it’s the shortage of output by one of its segments, infant formula, slowing its overall results.
Stabilizing Formula Business ‘First And Foremost’ For Perrigo To Reach Sustainable Growth
Perrigo’s adjusted operating income from formula business in 2023 was around half the $140m it expects. Level won’t be reached in 2024 but it’s “well on track to recapturing” that amount in 2025 and to “capturing all of that plus in 2026,” says CEO Patrick Lockwood-Taylor.
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