Perrigo Company
The company, a Zacks #1 Rank (strong buy), which manufactures and distributes over-the-counter (OTC) and prescription pharmaceuticals, nutritional products and consumer products, is expanding as consumers switch from more expensive, brand-name products to cheaper items in a slowing economy.
Perrigo Gets Tentative Approval for Ibuprofen PM
Perrigo continues to invest in new generic products. On Oct 29, PRGO announced it received tentative approval from the FDA for its over-the-counter Ibuprofen and Diphenhydramine Citrate Tablets, 200/38 mg., which is a pain reliever/nighttime sleep aid.
The company estimates that brand sales for the product for the prior 12 months ending Sept 30, 2008 were $70 million.
Perrigo is a Value Stock
Analysts continue to be bullish about Perrigo's future. 2008 year-over-year growth is expected to be 24.05%.
Full year 2009 estimates are up 4 cents to $1.96 in the last 60 days. Estimates for the first-quarter 2009 are up 2 cents to 42 cents in the last 30 days.
Perrigo has a forward P/E of 14.8. Its price-to-book is 3.0. PRGO has a stellar 1-year return on equity (ROE) of 17.5%.
The company has surprised on earnings 3 out of 4 quarters by an average of 11.65%. It reports first-quarter 2009 earnings on Nov 6.
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| Market Summary | Nov 25, 2009 15:08 pm ET |

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