Perrigo Co said Thursday that’s its third-quarter profits increased 33 percent on an increase in sales of consumer health care products. Perrigo Co trades on the “NASDAQ” under the stock symbol “PRGO”. For More information regarding “PRGO” or the Latest Stock Market Information, make sure to visit the Most Exclusive and In Depth newsletter website at: http://www.wallstreetgrand.com/.
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Perrigo Co. (NASDAQ:PRGO), said Thursday that’s its third-quarter profits increased 33 percent on an increase in sales of consumer health care products. The company earned $60.9 million, or 66 cents per share, up from profit of $45.9 million, or 49 cents per share, during the same period a year prior. Revenue rose 6 percent to $538.3 million from $505.9 million.
Excluding charges, the company said it earned 76 cents per share. Sales of consumer health care products, which include pain relievers and cold remedies, rose 4 percent to $436.3 million. Prescription drug sales and sales of active pharmaceutical ingredients also gained ground. The company expects full-year profit between $2.75 and $2.80 per share, up from prior guidance of $2.55 to $2.65 per share. Analysts expect profit of $2.60 per share in fiscal 2010.
About Perrigo Co:
Perrigo Company, through its subsidiaries, develops, manufactures, and distributes over-the-counter (OTC) and prescription (Rx) pharmaceuticals, nutritional products, active pharmaceutical ingredients (API), and medical diagnostic products worldwide. The company operates through three segments: Consumer Healthcare, Rx Pharmaceuticals, and API. The Consumer Healthcare segment offers OTC pharmaceutical and nutritional products, which include analgesic, cough/cold/allergy/sinus, gastrointestinal, smoking cessation, first aid, and vitamin and nutritional supplement products. The Rx Pharmaceuticals segment develops, manufactures, and markets generic prescription drug products, including creams, ointments, lotions, gels, shampoos, foams, suppositories, sprays, liquid suspensions, and solutions, as well as nasal sprays, oral liquids, and transdermal products. The API segment engages in the development, manufacture, and marketing of APIs used by the generic drug industry and branded pharmaceutical companies. Perrigo Company also manufactures and markets branded prescription drugs; and imports pharmaceutical, diagnostics, and other medical products. The company has collaborative agreements with Medicis Pharmaceutical Corporation, Medimetriks Pharmaceuticals, Cobrek Pharmaceuticals, and Cephalon Inc. Its customers primarily include retail drug companies, supermarkets, wholesalers, chain drug stores, hospitals and hospital systems, mass merchandise chains, and group purchasing organizations
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