Perrigo's Rx Business Looks Ready To Sell, Says Hedge Fund Investor
Executive Summary
Starboard Value states says Perrigo "severely mismanaged" its entry into branded consumer health through the acquisition of a German firm and showed "misguided confidence" in encouraging shareholders to reject Mylan's tender.
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Perrigo Looks To Spin Out Or Sell Off Rx Business, But Will Separating Generics Add Value?
Perrigo previously saw value in keeping its prescription pharmaceuticals in-house, but now says it will sell off or spin out the topical generics to focus on its over-the-counter brands. Questions remain about whether the company's generics portfolio is valuable enough to stand alone or attract a buyer.
Perrigo Looks To Spin Out Or Sell Off Rx Business, But Will Separating Generics Add Value?
Perrigo previously saw value in keeping its prescription pharmaceuticals in-house, but now says it will sell off or spin out the topical generics to focus on its over-the-counter brands. Questions remain about whether the company's generics portfolio is valuable enough to stand alone or attract a buyer.
Perrigo Makes Its Rx Generics Business Look Right At Home
Board bloc still is pushing to divest the Rx segment, though it achieved 4% volume sales growth and $6m in new product sales in the second quarter. Apparent second-quarter validation isn't enough to persuade CEO John Hendrickson to stay on.