perrigo co plc (PRGO) Key Developments
Mylan May Consider Buying Teva
May 11 15
Mylan N.V. (NasdaqGS:MYL) is not willing to sell itself to Teva Pharmaceutical Industries Limited (NYSE:TEVA), Mylan’s Executive Chairman, Robert Coury said. The official added that the company would consider buying that company down the road. The company has been steadfast in its refusal to combine with Teva and is instead encouraging shareholders to support its own $34 billion unsolicited offer for over-the-counter Perrigo Company Public Limited Company (NYSE:PRGO). Teva made an unsolicited $40 billion bid for Mylan in April 2015, and it was rejected. Teva said recently that it will move ahead with its plans to acquire Mylan if the Perrigo deal is not completed.
Horizon Pharma plc Enters Settlement and License Agreement with Perrigo Company plc and Paddock Laboratories, LLC
May 8 15
Horizon Pharma plc announced that its affiliates have entered into a settlement and license agreement with Perrigo Company plc and its subsidiary Paddock Laboratories, LLC, collectively (Perrigo), to resolve pending patent litigation involving PENNSAID(r) (diclofenac sodium topical solution) 2% w/w (PENNSAID(r) 2%). Under the settlement and license agreement, Horizon has granted Perrigo the non-exclusive right to market a generic diclofenac sodium topical 2% w/w solution in the United States under Perrigo's Abbreviated New Drug Application (ANDA), beginning January 10, 2029 or earlier under certain circumstances. The agreement includes a stipulation by the parties requesting dismissal without prejudice of the lawsuits filed by Horizon in the U.S. District Court for the District of New Jersey and the U.S. District Court for the District of Delaware relating to the ANDA filed by Perrigo with the U.S. Food and Drug Administration for a generic version of PENNSAID 2%. Details of the settlement are confidential and the agreement is subject to submission to the Federal Trade Commission and the U.S. Department of Justice.
Perrigo Company Public Limited Company Presents at 40th Annual Deutsche Bank Health Care Conference, May-06-2015 11:20 AM
Apr 30 15
Perrigo Company Public Limited Company Presents at 40th Annual Deutsche Bank Health Care Conference, May-06-2015 11:20 AM. Venue: The InterContinental Hotel, 510 Atlantic Ave, Boston, MA 02210, United States. Speakers: Joseph C. Papa, Chairman, Chief Executive Officer and President.
Perrigo Company plc Declares Quarterly Dividend, Payable on June 16, 2015
Apr 28 15
Perrigo Company plc announced that its board of directors declared a quarterly dividend of $0.125 per share, payable on June 16, 2015 to shareholders of record on May 29, 2015.
Perrigo Company plc Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended March 28, 2015; Provides Earnings Guidance for the Year 2015
Apr 21 15
Perrigo Company plc reported unaudited consolidated earnings results for the third quarter and nine months ended March 28, 2015. For the quarter, the company reported net sales of $1,049.1 million against $1,004.2 million a year ago. Operating income was $199.2 million against $103.3 million a year ago. Loss before income taxes was $102.7 million against income before income taxes of $62.7 million a year ago. Net loss was $94.9 million or $0.67 per basic and diluted share against net income of $48.1 million or $0.36 per basic and diluted share a year ago.
For the nine-months, the company reported net sales of $3,072.3 million against $2,916.6 million a year ago. Operating income was $520.7 million against $369.5 million a year ago. Income before income taxes was $90.6 million against $106.9 million a year ago. Net income was $71.5 million or $0.52 per basic and diluted share against $73.4 million or $0.67 per basic and diluted share a year ago. Net cash from operating activities was $735.6 million against $400.8 million a year ago. Additions to property and equipment were $79.8 million against $120.0 million a year ago. On non-GAAP basis, operating income was $355.7 million against $335.2 million a year ago. Income before income taxes was $706.0 million against $529.1 million a year ago. Net income was $609.4 million against $432.1 million a year ago. On adjusted basis, net sales were $3,072.3 million against $2,916.6 million a year ago. Operating income was $876.4 million against $704.6 million a year ago. Income before income taxes was $796.6 million against $635.8 million a year ago. Net income was $680.9 million or $5.06 per diluted share against $505.3 million or $4.62 per diluted share a year ago.
For the calendar year 2015, the company expects adjusted earnings per diluted share range of $7.50 to $8.00, an increase of 20% to 28% over calendar 2014 adjusted earnings per share. The company expects net sales for the year to be in the range of $5.4 billion to $5.7 billion with adjusted operating margin of approximately 27%.