DUBLIN - Perrigo Company plc (NYSE:PRGO), a leader in Consumer Self-Care Products with a market capitalization of $3.5 billion and an overall "GOOD" financial health rating according to InvestingPro, announced today the expansion of its Chief Scientific Office, integrating various scientific teams to enhance collaboration across its product portfolio. The restructuring aims to bolster the company’s consumer-led innovation pipeline.
Abbie Lennox, formerly with Bayer (OTC:BAYRY) Consumer Health, has been appointed as Executive Vice President and Chief Scientific Officer to lead the expanded office. Lennox brings extensive experience in regulatory excellence, product life cycle management, and innovation in consumer self-care. At Bayer, she was instrumental in launching products and claim-based innovations in various health categories and successfully led the U.S. Rx-to-OTC switch for Astepro®.
Patrick Lockwood-Taylor, President and CEO of Perrigo, expressed confidence in Lennox’s ability to drive consumer trust and advance the company’s vision in self-care. The appointment comes as four analysts have revised their earnings estimates upward for the upcoming period, and the company has maintained its dividend payments for 22 consecutive years. Lennox’s appointment is part of Perrigo’s strategic move to unify quality, regulatory, patient safety, and innovation functions under one umbrella.
Alison Ives, the previous Chief Scientific Officer, will now head the newly formed Disruptive Growth Team, focusing on identifying and capitalizing on emerging growth opportunities through category disruption.
Perrigo is recognized for its commitment to high-quality self-care products that empower consumers to manage their health proactively. The company’s future endeavors in innovation and market expansion are anticipated with Lennox’s scientific leadership and the formation of the Disruptive Growth Team.
This announcement is based on a press release statement by Perrigo. The company’s forward-looking statements reflect expectations for future financial performance and are subject to risks, uncertainties, and other factors that could influence actual results. According to InvestingPro analysis, Perrigo appears undervalued based on its Fair Value calculation, with analysts setting price targets ranging from $30 to $42. For comprehensive insights including 7 additional ProTips and detailed financial metrics, investors can access the full Pro Research Report, available exclusively to InvestingPro subscribers. Interested parties can review Perrigo’s SEC filings for more detailed information on these factors.
In other recent news, Perrigo Co . has seen a series of developments. The company’s recent third-quarter financial results indicated a 3.2% decrease in net sales year-over-year, but a 21.3% growth in operating income and a 27% increase in earnings per share to $0.81. The infant formula segment showed a 3% increase in net sales year-over-year, although year-to-date net sales decreased by 7.5%. Piper Sandler recently downgraded Perrigo’s stock rating from Overweight to Neutral due to concerns over the stagnant infant formula sales and potential pressures on the company’s financial model. However, four analysts from InvestingPro have revised their earnings upward for the upcoming period, expecting Perrigo to return to profitability this year. In addition, Perrigo has settled a significant financial dispute, resolving an insurance litigation for $98 million, which pertains to claims from securities litigation during 2015 to 2017. This settlement amount will offset legal expenses and costs from related securities actions. Lastly, Perrigo’s Supply Chain Reinvention is projected to save $100 million to $120 million annually by 2025. These are the latest developments in Perrigo’s ongoing efforts to improve its financial performance and market position.
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