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Perrigo 'Unlocks Value' But Weak 2017 Outlook Impedes Revelry

Executive Summary

Perrigo bows to pressure from activist investor to 'unlock value' by selling Tysabri royalty stream and laying off 750 staff, but still provides a weak outlook for 2017, prompting analysts to question the wisdom of the strategy.

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Outgoing CEO: Perrigo Outfitted To Sail On OTC, Rx And Euro Growth

Hendrickson recounts Perrigo's strategies to right the ship after a hole in earnings opened from investing in a European consumer health business and operating API and dietary supplement divisions and as pricing pressures on generic drugs took some wind out of its revenue sails.

Outgoing CEO: Perrigo Outfitted To Sail On OTC, Rx And Euro Growth

Hendrickson recounts Perrigo's strategies to right the ship after a hole in earnings opened from investing in a European consumer health business and operating API and dietary supplement divisions and as pricing pressures on generic drugs took some wind out of its revenue sails.

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.

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