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Perrigo

Perrigo Company plc
Public
Traded as NYSE: PRGO
TASE: PRGO
S&P 500 Component
Industry Pharmaceutical
Founded 1887 (1887)
Headquarters
Key people
Joseph C. Papa, Chairman, President and CEO
Products OTC, RX, API, Medical Diagnostic, pharmaceuticals
Revenue Increase $3,540 million (2013)[1]
Increase $805 million(2013)
Increase $ 530 million (2013)
Number of employees
7,250 (2009)
Slogan "Quality Affordable Healthcare Products"
Website .comperrigo

Perrigo Company plc is an Irish international manufacturer of private label over-the-counter pharmaceuticals.[2] 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-25 Index. Perrigo is the only non-Israeli company on the TA-25.

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.

Contents

  • History 1
    • Acquisitions 1.1
    • Acquisition history 1.2
  • Segments 2
  • Management 3
  • Awards 4
  • References 5
  • External links 6

History

Black and white photo of L.Perrigo Co. Aspirin tablets

The L. Perrigo Company was founded in 1887 in Allegan, Michigan, by Luther and Charles Perrigo, who ran a country general store .[3] 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 Moshe (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.[4]

In April 2015, Perrigo received a buy-out offer from Mylan for a fee of $29 billion.[5]

Acquisitions

On 9 January 2008, the firm acquired Galpharm Healthcare, Ltd., a supplier of over-the-counter store brand pharmaceuticals in the United Kingdom.[6] On 16 September 2008, the firm acquired J.B. Laboratories.[7] On 6 October 2008, it acquired Laboratorios Diba S.A., enabling the company to market its products in Mexico.[8] 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.[9]

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.[10] 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.[11]

On 20 January 2011, the firm announced that it would acquire Paddock Laboratories Inc., with the deal expected to close in fiscal 2012.[12]

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.[13]

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.[14] On 29 July 2013, the firm announced that it would acquire Élan, a major drugs firm based in Dublin.[15][16] 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.[17]

In November 2014, Perrigo announced it had agreed to buy Belgian health-products provider Omega Pharma approximately $4.5 billion.[18] The transaction was completed in March 2015.[19]

Acquisition history

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

Perrigo
  Omega Pharma
(Acq 2014)


  Élan
(Acq 2013)


  Rosemont Pharmaceuticals Ltd
(Acq 2013)


  Sergeant's Pet Care Products Inc
(Acq 2012)


  Paddock Laboratories Inc
(Acq 2011)



PBM Holdings Inc
(Acq 2010)



Orion Laboratories Pty Ltd
(Acq 2010)



Unico Holdings
(Acq 2008)



Laboratorios Diba S.A.
(Acq 2008)



J.B. Laboratories
(Acq 2008)



Galpharm International
(Acq 2008)



Agis Industries Ltd
(Acq 2005)



L. Perrigo Company
(Founded 1887)















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.

Management

Joseph C. Papa is the Chief Executive Officer and President.[20]

Awards

101 Best and Brightest Companies to Work For of West Michigan awarded Perrigo overall "Best of the Best" for 2009.[21]

In 2010 Perrigo was named one of the top 100 Fastest-Growing Companies by Fortune Magazine.[22]

References

  1. ^
  2. ^
  3. ^
  4. ^
  5. ^
  6. ^ http://www.perrigo.com/uploadedFiles/Investors/Press_Releases/PRGOPR(11).pdf
  7. ^
  8. ^
  9. ^ http://www.perrigo.com/uploadedFiles/Investors/Press_Releases/UNIPR.pdf
  10. ^ http://www.perrigo.com/uploadedfiles/Investors/Press_Releases/ORION.pdf
  11. ^ http://www.perrigo.com/uploadedFiles/Investors/Press_Releases/PBMCLS.pdf
  12. ^ http://www.perrigo.com/uploadedFiles/Investors/Press_Releases/110119%20Paddle%20PR%20v9%20-%20FINAL%20CHANGES.pdf
  13. ^
  14. ^
  15. ^ Perrigo kauft irische Pharmafirma Elan
  16. ^ US drugmaker Perrigo to buy Ireland's Elan for $8.6bn
  17. ^
  18. ^
  19. ^
  20. ^ http://www.perrigo.com/about/corporate-governance.aspx
  21. ^
  22. ^

External links

  • Perrigo's Corporate Website
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