DUBLIN, Jan. 10, 2017 /PRNewswire/ -- Perrigo
Company plc (NYSE: PRGO; TASE) today announced that it has changed
its reporting segments to better align with the Company's
organizational structure. Beginning with the fourth quarter of
calendar year 2016, the Company's new reporting segments are:
- Consumer Healthcare Americas – Comprises the legacy
U.S., Mexico and Canada consumer healthcare business (OTC,
contract, infant formula and animal health categories).
- Consumer Healthcare International – Comprises the legacy
Branded Consumer Healthcare segment and now includes our consumer
focused businesses in the U.K, Australia and Israel, which were previously reported in the
legacy Consumer Healthcare segment. This segment will also include
our U.K. liquids licensed products business, which was previously
reported in the Prescription Pharmaceuticals segment.
- Prescription Pharmaceuticals – Comprises the legacy U.S.
Prescription Pharmaceuticals business.
- Specialty Sciences – Will continue to comprise royalties
from Tysabri®.
- Other – Will continue to comprise the legacy Active
Pharmaceutical Ingredients (API) business.
The changes to the reporting segments have no impact on the
Company's historical consolidated financial position, results of
operations, or cash flows. In order to aid in comparability to
historical financial data, the Company has recast selected
financial statements and metrics utilizing the new reporting
segments. A current report on Form 8-K containing recast quarterly
and annual information for calendar years 2016, 2015, 2014 and 2013
will be issued today.
About Perrigo
Perrigo Company plc, a leading global over-the-counter ("OTC")
consumer goods and pharmaceutical company, offers patients and
customers high quality products at affordable prices. From its
beginnings in 1887 as a packager of home remedies, Perrigo,
headquartered in Ireland, has
grown to become the world's largest manufacturer of OTC healthcare
products and supplier of infant formulas for the store brand
market. The Company is also a leading provider of generic extended
topical prescription products and receives royalties from the sales
of the multiple sclerosis drug Tysabri®. Perrigo provides Quality
Affordable Healthcare Products® across a wide variety of product
categories and geographies primarily in North America, Europe, and Australia, as well as other markets, including
Israel, China and Latin
America.
Forward-Looking Statements
Certain statements in this press release are "forward-looking
statements." These statements relate to future events or the
Company's future financial performance and involve known and
unknown risks, uncertainties and other factors that may cause the
actual results, levels of activity, performance or achievements of
the Company or its industry to be materially different from those
expressed or implied by any forward-looking statements. In some
cases, forward-looking statements can be identified by terminology
such as "may," "will," "could," "would," "should," "expect,"
"plan," "anticipate," "intend," "believe," "estimate," "predict,"
"potential" or the negative of those terms or other comparable
terminology. The Company has based these forward-looking statements
on its current expectations, assumptions, estimates and
projections. While the Company believes these expectations,
assumptions, estimates and projections are reasonable, such
forward-looking statements are only predictions and involve known
and unknown risks and uncertainties, many of which are beyond the
Company's control, including the timing, amount and cost of share
repurchases, future impairment charges, the ability to achieve its
guidance and the ability to execute and achieve the desired
benefits of announced initiatives. These and other important
factors, including those discussed under "Risk Factors" in the
Company's Form 10-KT for the six-month period ended December 31, 2015, as well as the Company's
subsequent filings with the SEC, may cause actual results,
performance or achievements to differ materially from those
expressed or implied by these forward-looking statements. The
forward-looking statements in this press release are made only as
of the date hereof, and unless otherwise required by applicable
securities laws, the Company disclaims any intention or obligation
to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/perrigo-updates-segment-reporting-structure-300388500.html
SOURCE Perrigo Company plc