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Perrigo

#3431

Rank

$3.31B

Marketcap

IE Ireland

Country

Perrigo
Leadership team

Mr. Murray S. Kessler (CEO, Pres & Director)

Mr. James E. Dillard III (Exec. VP & Pres of Consumer Self-Care Americas)

Mr. Svend Andersen (Exec. VP & Pres of Consumer Self-Care International)

Products/ Services
Biotechnology, Manufacturing, Pharmaceutical
Number of Employees
1,000 - 20,000
Headquarters
Dublin, Dublin, Ireland
Established
1887
Company Registration
SEC CIK number: 0001585364
Net Income
20M - 100M
Revenue
Above - 1B
Traded as
PRGO
Social Media
Overview
Location
Summary
Perrigo Company plc provides over-the-counter (OTC) health and wellness solutions that enhance individual well-being by empowering consumers to prevent or treat conditions that can be self-managed. The company operates through two segments, Consumer Self-Care Americas and Consumer Self-Care International. The Consumer Self-Care Americas segment focuses primarily on the development, manufacture, marketing, and sale of store brand, self-care products in categories, including upper respiratory, pain and sleep-aids, digestive health, nutrition, vitamins, minerals and supplements, healthy lifestyle, skincare and personal hygiene, and oral self-care in the United States, Mexico, Canada, and South America. The segment offers its products under the Prevacid 24HR, Good Sense, Zephrex D, ScarAway, Plackers, Rembrandt, Steripod, Firefly, REACH, Dr. Fresh, and Burt's Bees brand names. The Consumer Self-Care International segment develops, manufactures, markets, and distributes consumer self-care brands through a network of pharmacies, wholesalers, drug and grocery store retailers, and para-pharmacies in approximately 23 countries, primarily in Europe. The company also offers contract manufacturing services. Perrigo Company plc was founded in 1887 and is headquartered in Dublin, Ireland.
History

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

In March 2005 the firm acquired Agis Industries Limited , 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 owned 9% of Perrigo, and was appointed as Vice Chairman of the company.In July 2013, Perrigo announced that it would execute a corporate tax inversion to Ireland in order to avoid U.S. corporate taxes, via an $8.6 billion acquisition of Irish-based Elan Corporation. As of November 2018, Perrigo is the sixth-largest U.S. tax inversion in history. Over 70% of Perrigo's sales, and an even greater percentage of Perrigo profits, are from the U.S. healthcare system.In April 2015, Perrigo received an unsolicited buy-out offer from Mylan of $29 billion, which was ultimately rejected by management and shareholders. In May 2016, Perrigo investors sued the company over statements made during the Mylan bid, which were 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 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 succeeded by Uwe Roehrhoff in January, 2018. Murray S. Kessler is the current President and CEO.On 20 December 2018, the Financial Times reported that the Irish Revenue Commissioners levied a €1.64 billion Irish tax claim on Perrigo for unpaid capital gains tax from the 2013 sale of Tysabri to Biogen by Elan, which happened months before Perrigo's acquisition of Elan. The claim is the second largest ever issued by the Revenue Commissioners in Irish history, after Apple's €13 billion Irish tax fine. On 21 December 2018, the Irish Times reported that Revenue claimed Perrigo owed CGT at a rate of 33% as an "asset sale", however Perrigo claimed that the sale was part of Elan's normal "trading income", and was subject to the lower 12.5% Irish corporate tax rate, which Perrigo was able to reduce to 0% using Ireland's multinational tax BEPS tools.In June 2022, Perrigo moved its corporate headquarters from Allegan to downtown Grand Rapids, about 40 miles north, within Michigan State University's Grand Rapids Innovation Park. The company still maintains offices and production at the Allegan campus.

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 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 pharmaceutical firm based in Dublin. The Élan acquisition enabled Perrigo to reincorporate as an Irish company using Élan's headquarters , lowering its effective tax rate .In November 2014, Perrigo announced it had agreed to buy Belgian health-products provider Omega Pharma approximately $4.5 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.In May 2019, Perrigo announced it would acquire Ranir Global Holdings LLC, boosting its oral self-care offering, with the transaction valued at $750 million.In February 2020, announced that it has reached an agreement to acquire the oral care assets of High Ridge Brands for $113 million.In March 2021, Perrigo confirmed it would sell off its generics business to Altaris Capital Partners for $1.55 billion. In September, the business announced it would acquire HRA Pharma from investment firms Astorg and Goldman Sachs Asset Management for $2.1 billion, and completed the acquisition in April 2022.

Acquisition history

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

Mission
Providing the world with quality, affordable healthcare products.
Vision
our local vision is about “Making a Difference to Health”. We aim to make a difference to health in our countries and communities – to people, our customers, our pharmacists and to our employees. We're making a small difference in a lot of people's lives, enabling them to live a better life.
Key Team

Mr. Shannon Hukill (Sr. Director of Technical Operations)

Mr. Eduardo Guarita Bezerra (Exec. VP & CFO)

Mr. Thomas M. Farrington (Chief Information Officer & Exec. VP)

Mr. Ronald C. Janish (Chief Transformation Officer and Exec. VP of Global Operations & Supply Chain)

Ms. Alison Ives (Exec. VP & Chief Scientific Officer)

Mr. Bradley Joseph (VP of Global Investor Relations & Corp. Communications)

Ms. Kyle L. Hanson (Exec. VP, Gen. Counsel & Corp. Sec.)

Recognition and Awards
Perrigo is consistently recognized as one of the top large-cap companies in the world. In recent years, Perrigo has been recognized with awards such as Fortune 500 company, Forbes’ “Best Global Brands” and “Best Employers”, and was named to the Dow Jones Sustainability World Index for two consecutive years.
References
Perrigo
Leadership team

Mr. Murray S. Kessler (CEO, Pres & Director)

Mr. James E. Dillard III (Exec. VP & Pres of Consumer Self-Care Americas)

Mr. Svend Andersen (Exec. VP & Pres of Consumer Self-Care International)

Products/ Services
Biotechnology, Manufacturing, Pharmaceutical
Number of Employees
1,000 - 20,000
Headquarters
Dublin, Dublin, Ireland
Established
1887
Company Registration
SEC CIK number: 0001585364
Net Income
20M - 100M
Revenue
Above - 1B
Traded as
PRGO
Social Media