Displaying items by tag: Perrigo Co plc
Perrigo Co. plc (NYSE: PRGO) said federal investigators executed a search of its corporate office as part of a broader, ongoing investigation of drug pricing in the pharmaceutical industry.
Perrigo Co. plc intends to restate financial reports for two previous fiscal years and 10 quarterly periods after agreeing to reclassify royalty revenues from the multiple sclerosis drug Tysabri that it sold two months ago.
Perrigo Co. plc’s drive to improve operations and earnings includes the elimination of 750 non-manufacturing positions globally.
Perrigo Co. plc today struck a deal that gave an activist shareholder three seats on its board of directors.
Mike Jandernoa leaves the board at Perrigo Co. plc next spring and in the process ends a link to the company’s past when it was a far smaller producer of medications in rural Allegan.
In what he describes as a “good year,” Michael Jones was involved in closing 20 transactions in late 2015 and the first half of 2016 that had a collective value of $1.5 billion.
Less than a year after shareholders of Perrigo Co. plc turned down a $26 billion hostile takeover bid, a New York City hedge fund wants the company to look at the potential sale of its generic drug business and to get more aggressive in improving performance.
Here is the MiBiz Growth Report for Aug. 22, 2016.
• M&A: Dublin-based Perrigo Co. plc (NYSE: PRGO), which maintains its corporate headquarters in Allegan, Mich., will acquire Geiss, Destin & Dunn Inc. (GDD) of Peachtree City, Ga., according to a statement. GDD is a small national distributor of over-the-counter health care and consumer products to non-chain retail stores and institutional markets. Perrigo expects the deal, the terms for which were not disclosed, to close by the end of the month. The deal will strengthen and diversify its U.S. retail network, “providing us direct access to the non-mass retail market,” according to CEO John Hendrickson. GDD previously distributed Perrigo’s products.
Shares of Perrigo Co. plc declined sharply today after the company reported lower quarterly sales and earnings and cut expectations for 2016.
With its share price down more than 13 percent since the Brexit vote, appliance maker Whirlpool Corp. looked to calm investors this morning by reaffirming its guidance for the 2015 fiscal year.