Perrigo

Perrigo Company plc is an American international manufacturer of private label over-the-counter pharmaceuticals. The company's shares are traded on the NYSE and the Tel Aviv Stock Exchange; as a result of the merger with Agis Industries the company is a constituent of the TA-35 Index. Perrigo is the only non-Israeli company on the TA-35.

Perrigo Company plc, through its wholly owned subsidiaries, engages in the manufacture and sale of consumer healthcare products, generic prescription drugs, active pharmaceutical ingredients (API), and consumer products primarily in the United States, Australia, Israel, Europe, India and Mexico.

Video Perrigo

History

The L. Perrigo Company was founded in 1887 in Allegan, Michigan, by Luther and Charles Perrigo, who ran a country general store . In 1991 Perrigo had an Initial public offering on NASDAQ.

In March 2005 the firm acquired Agis Industries Ltd. (TASE:AGIS), an Israel-based generic pharmaceuticals company in an $850 million transaction. Agis was founded in 1983 by Mori Arkin who developed his father's small drug import business into a multinational generic pharmaceutical company. As a result of the acquisition Arkin owns 9% of Perrigo, and was appointed as Vice Chairman of the company.

In April 2015, Perrigo received a buy-out offer from Mylan for a fee of $29 billion. In May 2016 Perrigo investors sued the company over misleading statements made during Mylans hostile takeover attempt. Those false statements are said to have persuaded shareholders to vote against the deal. In the months prior to this suit, the company's chairman and CEO, Joseph Papa, who has been credited with "fending off" Mylan's hostile takeover bid, left to take the CEO role at Valeant. Upon Papa's departure, John Hendrickson, who was at the time the company's president, took on the additional roles of chairman and CEO. Hendrickson was succeed by Uwe Rohrhoff in January, 2018.

Acquisitions

On 9 January 2008, the firm acquired Galpharm Healthcare, Ltd., a supplier of over-the-counter store brand pharmaceuticals in the United Kingdom. On 16 September 2008, the firm acquired J.B. Laboratories. On 6 October 2008, it acquired Laboratorios Diba S.A., enabling the company to market its products in Mexico. On 13 November 2008, it acquired Unico Holdings, a manufacturer of store brand pediatric electrolytes, enemas and feminine hygiene products for retail consumers in the U.S.

On 1 March 2010, the firm acquired Orion Laboratories Pty, Ltd. a supplier of over-the-counter (OTC) store brand pharmaceutical products in Australia and New Zealand. On 23 March 2010, it acquired PBM Holdings, Inc., a producer of over-the-counter store brand infant formula and baby foods in the United States, Canada, Mexico and China.

On 20 January 2011, the firm announced that it would acquire Paddock Laboratories Inc., with the deal expected to close in fiscal 2012.

In September 2012, Perrigo announced its intention to enter the animal wellness category by acquiring the assets of Sergeant's Pet Care Products, Inc., a privately held manufacturer of over-the-counter companion animal healthcare products.

On 11 February 2013, Perrigo announced the completion of the acquisition of Rosemont Pharmaceuticals Ltd., a specialty and generic prescription pharmaceutical company focused on the manufacturing and marketing of oral liquid formulations. On 29 July 2013, the firm announced that it would acquire Élan, a major drugs firm based in Dublin. The Élan merger allowed Perrigo to reincorporate as an Irish company using Élan's headquarters (although the executive offices will remain in Allegan), lowering its effective tax rate significantly.

In November 2014, Perrigo announced it had agreed to buy Belgian health-products provider Omega Pharma approximately $4.5 billion(EUR3.6 billion). The transaction was completed in March 2015.

In August 2016, the company announced it would acquire US national distributor of over-the-counter medicines, Geiss, Destin & Dunn

Acquisition history

The following is an illustration of the company's major mergers and acquisitions and historical predecessors:

Maps Perrigo

Segments

The company operates in three segments; Consumer Healthcare, Rx Pharmaceuticals, and Active Pharmaceutical Ingredients. The Consumer Healthcare segment produces over-the-counter pharmaceutical and nutritional products in the United States, the United Kingdom, and Mexico. This segment offers analgesic, cough/cold/allergy/sinus, gastrointestinal, smoking cessation, first aid, antacids, hemorrhoidal remedies, motion sickness, sleep aid products, feminine hygiene products, vitamin, and nutritional supplement products.

The Rx Pharmaceuticals segment produces generic prescription drugs in the United States. This segment provides creams, ointments, lotions, gels, and solutions, as well as nasal sprays, foams, and transdermal devices.

The Active Pharmaceutical Ingredients segment produces pharmaceutical ingredients in Israel with sales to customers worldwide. The company also offers cosmetics, toiletries, detergents, manufactured and imported pharmaceutical products, and medical diagnostic products. The company's customers include national and regional retail drug, supermarket, wholesalers, and mass merchandise chains.

See also

• Corporation tax in the Republic of Ireland#Corporate tax inversions

References

External links

• Official website