Perrigo Co.

Perrigo Company (PRGO - Snapshot Report)

Company Description

Perrigo is the nations largest manufacturer of store brand over-the-counter pharmaceutical products and also manufactures store brand nutritional products. Store brand products are sold by national and regional supermarket, drugstore and mass merchandise chains under their own labels and compete with nationally advertised brands.

The Company's products include analgesics, cough and cold remedies, antacids, laxatives, feminine hygiene and smoking cessation products, and vitamins, nutritional supplements and nutritional drinks.

Raising Guidance

Perrigo announced first quarter fiscal 2009 earnings results on Nov 6. After first-quarter revenue rose 25% year-over-year management increased fiscal 2009 earnings guidance. Expected earnings for the year are now between $1.92 and $2.00.

Earnings per share came in at 41 cents, a 14% increase over the 36 cents last year. However, analysts were expecting 42 cents, making this the second consecutive negative surprise.

Tentative FDA Approval

On Oct 29 Perrigo announced the tentative approval from the FDA for its over-the-counter Ibuprofen and Diphenhydramine Citrate Tablets. The pills will be sold as store brands and are similar to Advil PM.

Read Oct 16 Feature Here

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