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Perrigo Reports Record Second Quarter Sales
Date:2/3/2009

ALLEGAN, Mich., Feb. 3 /PRNewswire-FirstCall/ -- Perrigo Company (Nasdaq: PRGO; TASE) today announced results for its fiscal year 2009 second quarter and six months that ended December 27, 2008.


                                 Perrigo Company
                    (in thousands, except per share amounts)

                                  Second Quarter              Six Months

                                 2009         2008         2009         2008
    Net Sales                $561,477     $435,483   $1,041,713     $818,223
    Reported Net Income       $24,993      $34,289      $62,951      $68,308
    Adjusted Net Income       $42,716      $34,289      $81,313      $68,308
    Diluted EPS                 $0.27        $0.36        $0.67        $0.72
    Adjusted Diluted EPS        $0.46        $0.36        $0.86        $0.72
    Diluted Shares             93,587       95,283       94,076       95,104

Second Quarter Results

Net sales for the second quarter of fiscal 2009 were a record $561.5 million, an increase of 29%. Reported net income was $25.0 million, or $0.27 per share, compared with $34.3 million, or $0.36 per share, a year ago, a decrease of 27%. Excluding charges as outlined in Table II at the end of this release, second quarter fiscal 2009 adjusted net income was $42.7 million, or $0.46 per share.

The Company incurred a charge of $15.1 million, or $0.16 per share, related to the write-down of auction rate securities purchased in Israel from Lehman Brothers. These assets were written down from a face value of $18.0 million and continue to be held in non-current assets. The market for these securities has been illiquid for over 12 months, and the credit worthiness of underlying issuers has continued to deteriorate significantly. As a result, per Financial Accounting Standard 115 "Accounting for Certain Investments in Debt and Equity Securities," the impairment of these securities can no longer be considered to be temporary.

(Refer to Table II at the end of this press release for additional adjustments in the current year period and additional non-GAAP disclosure information.)

Perrigo's Chairman and CEO Joseph C. Papa stated, "In the second quarter, we achieved record sales with our new products contributing $84 million to top line growth. This past quarter, the over-the-counter category grew 4% versus second quarter last year and the store brand category grew nearly 17%, while Perrigo grew 39%. Store brand offerings continue to perform well as our retailers promote these products to help their customers through these trying times."

Six Months Results

Net sales for the first half of fiscal 2009 were $1,041.7 million, an increase of 27% over fiscal 2008. The increase was driven primarily by the Consumer Healthcare segment and included consolidated new product sales of approximately $156 million. Reported gross profit was $298.5 million, up 20% over fiscal 2008, driven by the Consumer Healthcare segment. The reported gross profit percentage in the first half of fiscal 2009 was 29%, down from 30% last year. Operating expenses were $179.2 million, an increase of 18% over fiscal 2008, but as a percent of sales were slightly lower than fiscal 2008. Reported net income was $63.0 million, a decrease of 8% from fiscal 2008. Adjusted net income was $81.3 million or an increase of 19% from fiscal 2008.

Consumer Healthcare

Consumer Healthcare segment net sales in the second quarter were a record $446.4 million compared with $320.2 million in the second quarter last year, an increase of $126.2 million or 39%. The increase resulted from approximately $77 million of new product sales, and a $15.3 million increase in domestic sales of existing products. Sales also included $33.4 million of sales from the acquisitions of JB Laboratories and Unico Holdings. In addition, international acquisitions, including Galpharm, Brunel and Diba, added $18.9 million.

Reported operating income was $56.3 million, compared with $38.8 million a year ago, largely driven by sales of new, higher margin products and improved management of operating expenses. Adjusted operating income was $60.1 million or an increase of 55% compared to a year ago.

For the first six months of fiscal year 2009, Consumer Healthcare net sales increased 38% or $224.1 million compared to fiscal 2008. The increase resulted from approximately $143.8 million of new product sales and a $38.2 million increase from higher domestic sales of existing products. The increase also included sales of $70.6 million from the Company's recent acquisitions, which were slightly offset by the absence of the U.K.'s vitamins, minerals and supplements business' sales of $16.0 million and the unfavorable effect of foreign currency exchange of $10.0 million.

On October 6, the Company announced that it acquired Laboratorios Diba, S.A. (Diba) for approximately $25 million in cash. Based in Guadalajara, Mexico, privately-held Diba is a store brand manufacturer of over-the-counter (OTC) and prescription pharmaceuticals, including antibiotics, hormonals and opthalmics. The acquisition is expected to add approximately $15 million of annual sales.

On November 13, the Company announced that it acquired Unico Holdings (Unico) for approximately $52 million in cash. Based in Lake Worth, Florida, privately-held Unico is the leading manufacturer of store brand pediatric electrolytes, enemas and feminine hygiene products for retail customers in the U.S. The acquisition is expected to add approximately $50 million of annual sales and to be accretive to earnings in the first 12 months.

On December 29, the Company announced that it received final approval from the U.S. Food and Drug Administration (FDA) for its Abbreviated New Drug Application (ANDA) for OTC Ibuprofen and Diphenhydramine Citrate Tablets, 200/38 mg. The Company expects to begin shipping the product to retailers during the first quarter of calendar year 2009. The product will be marketed under store brand labels and is comparable to Wyeth Consumer Healthcare's Advil(R) PM tablets, 200/38 mg, indicated as a pain reliever (NSAID)/nighttime sleep-aid. Estimated brand sales for the product for the last 12 months ending December 21, 2008 were $71 million.

Rx Pharmaceuticals

The Rx Pharmaceutical segment second quarter net sales were $40.4 million compared with $38.7 million a year ago. This increase resulted primarily from new product sales of approximately $5.7 million and a slight increase in sales volumes on the Company's existing portfolio of products. These increases were partially offset by a $1.8 million reduction in non-product revenue, along with continued pricing pressure due to changes in customer mix and increased competition in the marketplace for generic drugs. Operating income was $7.2 million, compared with $8.4 million last year.

For the first six months of fiscal year 2009, net sales for the Rx Pharmaceutical segment were relatively flat compared to fiscal 2008. Sales increased due to new product sales of approximately $10.0 million, along with an increase in sales volumes on the Company's existing portfolio of products. These increases were offset by a $6.0 million reduction in non-product revenue, along with unfavorable changes in customer mix and increased competition in the marketplace for generic drugs.

On November 19, the Company acknowledged the settlement of patent litigation brought by Sanofi-Aventis against Barr Laboratories, Inc. (Barr), a subsidiary of Barr Pharmaceuticals, Inc. The suit was brought in the U.S. District Court of Delaware in 2006 based upon Barr's filing of an ANDA for Triamcinolone Acetonide Nasal Spray containing a paragraph IV certification. Barr believes that it is the first to file an ANDA containing a paragraph IV certification for NASACORT(R)AQ. Barr developed its Triamcinolone Acetonide Nasal Spray product with the Company and is awaiting final approval from the FDA. NASACORT(R)AQ had annual sales of approximately $325 million for the 12 months ended November 2008, based on Wolters Kluwer sales data.

On December 4, the Company announced that all Hatch-Waxman litigation relating to Desloratadine tablets (5 mg) had been settled with the Company taking a license under all relevant patents. Under the terms of the settlement, the Company can commercially launch its generic Desloratadine product on July 1, 2012, or earlier in certain circumstances. The new product launch may be a prescription or OTC product depending on its status at the time of launch. The Company's product is awaiting FDA approval. This product seeks an AB-rating as equivalent to Schering-Plough's Clarinex(R) tablets (5 mg) indicated for the treatment of seasonal allergic rhinitis, perennial allergic rhinitis and chronic idiopathic urticaria. Sales for the brand were approximately $300 million for the 12 months ending November 2008, according to Wolters Kluwer data.

API

The API segment reported second quarter net sales of $31.9 million compared with $34.6 million a year ago, reflecting lower sales in two key products and unfavorable changes in foreign currency exchange rates. Operating income was $1.1 million, compared with $3.4 million last year, reflecting lower sales volume and unfavorable foreign currency exchange rate changes. For the first six months of fiscal year 2009, net sales decreased 10% or $7.3 million, compared to fiscal 2008. This decrease was due primarily to a decline of approximately $13.3 million in sales of two key products, partially offset by $6.0 million in increased volume on the remaining portfolio of existing products, favorable changes in the foreign currency exchange rate and new product sales.

Other

The Other category, consisting of the Israel Consumer Products and Israel Pharmaceutical and Diagnostic Products operating segments, reported second quarter net sales of $42.8 million, compared with $42.0 million a year ago. Operating income was $0.5 million, down from $3.4 million last year, due primarily to recognizing a loss on assets that fund the Israeli post employment obligations. Year-to-date net sales for fiscal 2009 increased 8% or $6.7 million, compared to fiscal 2008. The increase was due primarily to approximately $8.7 million of favorable changes in the foreign currency exchange rate.

Chairman and CEO Joseph C. Papa concluded, "The Perrigo business model remains strong. Despite an unprecedented negative economic environment, we have grown our business and expect to continue to do so given the momentum we have in our healthy OTC business and our strong balance sheet. But we are not immune to the effects of this economy. The API market is changing rapidly as our customers consolidate and manage their own costs, changing the timing of new product development activities. The requirement to recognize a loss on the assets that fund our Israeli post employment obligations was an unexpected result of global financial distress. As a result of unusually volatile foreign currency markets, our international businesses were atypically impacted by exchange rates. Increased sales in our nutrition product category as a result of high customer demand were offset by increased materials costs and additional costs of managing through short-term capacity constraints. To counteract these forces, we are in the process of changing our cost base in Israel, cutting corporate expenses and removing underperforming products and assets. It is imperative that we not rest on OTC's strong performance alone, but rather continue to look for additional ways to drive return on invested capital and to position ourselves for any environment."

"As a result of the combination of these factors, we are now expecting adjusted fiscal 2009 earnings to be between $1.75 and $1.90 per share, which implies a year over year growth rate of adjusted earnings of 11 to 20% over fiscal 2008. This is down from our previous guidance of $1.92 to $2.00 per share, excluding charges outlined in Table III at the end of this release. Reported fiscal 2009 earnings per share are expected to be between $1.55 and $1.70 per share."

"Looking ahead, we believe Perrigo is well positioned to continue to add value to our customers and shareholders."

Perrigo will host a conference call to discuss fiscal 2009 second quarter results at 10:00 a.m. (ET) on Tuesday, February 3. The conference call will be available live via webcast to interested parties on the Perrigo website http://www.perrigo.com or by phone 877-248-9413, International 973-582-2737 and reference ID# 80886866. A taped replay of the call will be available beginning at approximately 2:00 p.m. (ET) Tuesday, February 3, until midnight Friday, February 13, 2009. To listen to the replay, call 800-642-1687, International 706-645-9291, access code 80886866.

Perrigo Company is a leading global healthcare supplier that develops, manufactures and distributes OTC and generic prescription pharmaceuticals, nutritional products, active pharmaceutical ingredients (API) and consumer products. The Company is the world's largest manufacturer of OTC pharmaceutical products for the store brand market. The Company's primary markets and locations of manufacturing and logistics operations are the United States, Israel, Mexico and the United Kingdom. Visit Perrigo on the Internet (http://www.perrigo.com).

Note: Certain statements in this press release are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbor created thereby. 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 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. These and other important factors, including those discussed under "Risk Factors" in the Company's Form 10-K for the year ended June 28, 2008, as well as the Company's subsequent filings with the Securities and Exchange Commission, 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.



                                  PERRIGO COMPANY
                    CONDENSED CONSOLIDATED STATEMENTS OF INCOME
                      (in thousands, except per share amounts)
                                    (unaudited)

                                     Second Quarter         Year-to-Date
                                     2009      2008        2009       2008

    Net sales                     $561,477  $435,483   $1,041,713  $818,223
    Cost of sales                  407,174   304,674      743,195   570,143
    Gross profit                   154,303   130,809      298,518   248,080

    Operating expenses
      Distribution                   7,643     7,744       15,612    14,818
      Research and development      19,923    16,143       38,147    32,463
      Selling and administration    65,784    57,626      125,125   104,844
            Subtotal                93,350    81,513      178,884   152,125
      Write-off of in-process
       research and development        279         -          279         -
            Total                   93,629    81,513      179,163   152,125

    Operating income                60,674    49,296      119,355    95,955
    Interest, net                    7,464     3,674       13,310     8,329
    Other (income) expense, net        891      (513)       1,006    (1,086)
    Investment impairment           15,104         -       15,104         -

    Income before income taxes      37,215    46,135       89,935    88,712
    Income tax expense              12,222    11,846       26,984    20,404

    Net income                     $24,993   $34,289      $62,951   $68,308

    Earnings per share
      Basic                          $0.27     $0.37        $0.68     $0.73
      Diluted                        $0.27     $0.36        $0.67     $0.72

    Weighted average shares
     outstanding
      Basic                         92,044    93,147       92,415    93,186
      Diluted                       93,587    95,283       94,076    95,104

    Dividends declared per share    $0.055    $0.050       $0.105    $0.095



                                 PERRIGO COMPANY
                      CONDENSED CONSOLIDATED BALANCE SHEETS
                                  (in thousands)
                                   (unaudited)

                                          December 27,  June 28,  December 29,
                                              2008        2008        2007
    Assets
    Current assets
      Cash and cash equivalents             $162,164    $318,604     $72,163
      Investment securities                        9         560      29,642
      Accounts receivable, net               359,136     350,272     311,013
      Inventories                            430,719     399,972     326,002
      Current deferred income taxes           48,725      43,342      38,683
      Income taxes refundable                 22,965       6,883       4,568
      Prepaid expenses and other current
       assets                                 25,969      37,226      21,415
             Total current assets          1,049,687   1,156,859     803,486

    Property and equipment                   746,184     745,840     687,068
      Less accumulated depreciation         (385,542)   (388,945)   (358,068)
                                             360,642     356,895     329,000

    Restricted cash                          400,000     400,000     400,000
    Goodwill                                 267,937     282,417     212,934
    Other intangible assets                  230,961     229,327     191,430
    Non-current deferred income taxes         63,837      74,737      59,925
    Other non-current assets                  52,613      74,842      42,535
                                          $2,425,677  $2,575,077  $2,039,310

    Liabilities and Shareholders' Equity
    Current liabilities
      Accounts payable                      $266,189    $253,307    $194,214
      Notes payable                              -           -         3,937
      Payroll and related taxes               51,445      77,140      44,673
      Accrued customer programs               52,855      53,668      48,882
      Accrued liabilities                     48,954      56,958      40,137
      Current deferred income taxes           18,354      24,493      20,320
      Current portion of long-term debt       17,050      20,095      16,539
             Total current liabilities       454,847     485,661     368,702

    Non-current liabilities
      Long-term debt                         892,050     895,095     648,077
      Non-current deferred income taxes      136,625     139,212     106,569
      Other non-current liabilities          116,430     121,394      99,566
             Total non-current
              liabilities                  1,145,105   1,155,701     854,212

    Shareholders' equity
      Preferred stock, without par value,
       10,000 shares authorized                  -           -           -
      Common stock, without par value,
       200,000 shares authorized             442,774     488,537     505,076
      Accumulated other comprehensive
       income                                 39,716     155,184      79,470
      Retained earnings                      343,235     289,994     231,850
             Total shareholders' equity      825,725     933,715     816,396
                                          $2,425,677  $2,575,077  $2,039,310

    Supplemental Disclosures of Balance
     Sheet Information
      Allowance for doubtful accounts        $11,324      $9,931      $8,944
      Working capital                       $594,840    $671,198    $434,784
      Preferred stock, shares issued             -           -           -
      Common stock, shares issued             92,129      93,311      93,353



                                  PERRIGO COMPANY
                  CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (in thousands)
                                    (unaudited)

                                                          Year-To-Date
                                                     2009             2008
    Cash Flows (For) From Operating
     Activities
      Net income                                    $62,951          $68,308
      Adjustments to derive cash flows
        Write-off of in-process
         research and development                       279                -
        Depreciation and amortization                34,362           30,983
        Asset impairments                            16,704                -
        Share-based compensation                      4,923            3,930
        Income tax benefit from exercise of
         stock options                                  646            2,094
        Excess tax benefit of stock transactions     (3,365)          (3,209)
        Deferred income taxes                        (8,035)           1,908
      Sub-total                                     108,465          104,014


      Changes in operating assets and liabilities,
       net of asset and business acquisitions
        Accounts receivable                         (13,849)         (22,125)
        Inventories                                 (28,714)         (24,238)
        Income taxes refundable                     (22,965)          (4,568)
        Accounts payable                             13,674           24,951
        Payroll and related taxes                   (26,496)          (2,605)
        Accrued customer programs                      (813)             664
        Accrued liabilities                         (10,289)          (6,663)
        Accrued income taxes                         14,607           13,475
        Other                                         2,361           10,131
      Sub-total                                     (72,484)         (10,978)
          Net cash from operating activities         35,981           93,036

    Cash Flows (For) From Investing Activities
      Purchase of securities                            -           (133,791)
      Proceeds from sales of securities                 -            153,502
      Cash acquired in asset exchange                 2,115              -
      Acquisitions of businesses, net
       of cash acquired                             (88,224)             -
      Acquisition of intangible assets               (1,000)         (12,401)
      Additions to property and equipment           (20,929)         (13,714)
          Net cash for investing activities        (108,038)          (6,404)

    Cash Flows (For) From Financing Activities
      Repayments of short-term debt, net            (13,736)          (7,839)
      Borrowings of long-term debt                      -             50,000
      Repayments of long-term debt                  (14,287)         (55,000)
      Excess tax benefit of stock transactions        3,365            3,209
      Issuance of common stock                        8,892           16,029
      Repurchase of common stock                    (62,297)         (35,417)
      Cash dividends                                 (9,710)          (8,898)
          Net cash for financing activities         (87,773)         (37,916)

          Net increase (decrease) in cash and cash
           equivalents                             (159,830)          48,716
    Cash and cash equivalents, at beginning of
     period                                         318,604           30,305
    Effect of exchange rate changes on
     cash                                             3,390           (6,858)
    Cash and cash equivalents, at end
     of period                                     $162,164          $72,163

    Supplemental Disclosures of Cash
     Flow Information
       Cash paid/received during
        the period for:
             Interest paid                          $24,206          $19,561
             Interest received                      $13,448          $10,392
             Income taxes paid                      $44,322          $11,331
             Income taxes refunded                   $1,084           $1,288



                                     Table I
                                 PERRIGO COMPANY
                               SEGMENT INFORMATION
                                  (in thousands)
                                   (unaudited)

                                       Second Quarter        Fiscal Year
                                       2009      2008       2009       2008
    Segment Sales
      Consumer Healthcare           $446,410  $320,205    $812,612  $588,464
      Rx Pharmaceuticals              40,401    38,655      73,576    73,615
      API                             31,866    34,608      66,109    73,422
      Other                           42,800    42,015      89,416    82,722
           Total                    $561,477  $435,483  $1,041,713  $818,223

    Segment Operating Income (Loss)
      Consumer Healthcare            $56,305   $38,838    $115,420   $68,856
      Rx Pharmaceuticals               7,172     8,365       8,956    15,810
      API                              1,062     3,423       1,497    10,699
      Other                              456     3,424       1,705     6,054
      Unallocated expenses            (4,321)   (4,754)     (8,223)   (5,464)
           Total                     $60,674   $49,296    $119,355   $95,955



                                    Table II
                                 PERRIGO COMPANY
                       RECONCILIATION OF NON-GAAP MEASURES
                     (in thousands, except per share amounts)
                                   (unaudited)

                                       Second Quarter        Fiscal Year
                                       2009      2008       2009       2008

    Net sales                        $561,477  $435,483  $1,041,713  $818,223

    Reported gross profit            $154,303  $130,809    $298,518  $248,080
      Inventory step-up - Unico         1,062       -         1,062       -
      Inventory step-up - Diba            767       -           767       -
      Inventory step-up - JB Labs         358       -           358       -
      Impairment of fixed assets        1,600       -         1,600       -
    Adjusted gross profit            $158,090  $130,809    $302,305  $248,080
    Adjusted gross profit %             28.2%     30.0%       29.0%     30.3%

    Reported operating income         $60,674   $49,296    $119,355   $95,955
      Inventory step-up - Unico         1,062       -         1,062       -
      Inventory step-up - Diba            767       -           767       -
      Inventory step-up - JB Labs         358       -           358       -
      Impairment of fixed assets        1,600       -         1,600       -
      Write-off of in-process R&D -
       Diba acquisition                   279       -           279       -
      Loss on asset exchange              -         -           639       -
    Adjusted operating income         $64,740   $49,296    $124,060   $95,955
    Adjusted operating income %         11.5%     11.3%       11.9%     11.7%

    Reported net income               $24,993   $34,289     $62,951   $68,308
      Inventory step-up - Unico (4)       645       -           645       -
      Inventory step-up - Diba (1)        552       -           552       -
      Inventory step-up - JB Labs (2)     229       -           229       -
      Impairment of fixed assets (3)      992       -           992       -
      Write-off of in-process R&D -
       Diba acquisition (1)               201       -           201       -
      Investment impairment (5)        15,104       -        15,104       -
      Loss on asset exchange (5)            -       -           639       -
    Adjusted net income               $42,716   $34,289     $81,313   $68,308

    Diluted earnings per share
      Reported                          $0.27     $0.36       $0.67     $0.72
      Adjusted                          $0.46     $0.36       $0.86     $0.72

    Diluted weighted average shares
     outstanding                       93,587    95,283      94,076    95,104

    (1)Net of taxes at 28%
    (2)Net of taxes at 36%
    (3)Net of taxes at 38%
    (4)Net of taxes at 39.3%
    (5)No tax impact



                               Table II (Continued)
                               REPORTABLE SEGMENTS
                       RECONCILIATION OF NON-GAAP MEASURES
                                  (in thousands)
                                   (unaudited)

                                         Second Quarter       Fiscal Year
                                         2009      2008      2009      2008
    Consumer Healthcare
    Net sales                          $446,410  $320,205  $812,612  $588,464

    Reported gross profit              $114,977   $86,553  $224,284  $158,909
      Inventory step-up - Unico           1,062       -       1,062       -
      Inventory step-up - Diba              767       -         767       -
      Inventory step-up - JB Labs           358       -         358       -
      Impairment of fixed assets          1,600       -       1,600       -
    Adjusted gross profit              $118,764   $86,553  $228,071  $158,909
    Adjusted gross profit %               26.6%     27.0%     28.1%     27.0%

    Reported operating expenses         $58,672   $47,715  $108,864   $90,053
      Loss on asset exchange                -         -        (639)      -
    Adjusted operating expenses         $58,672   $47,715  $108,225   $90,053
    Adjusted operating expenses %         13.1%     14.9%     13.3%     15.3%

    Reported operating income           $56,305   $38,838  $115,420   $68,856
      Inventory step-up - Unico           1,062       -       1,062       -
      Inventory step-up - Diba              767       -         767       -
      Inventory step-up - JB Labs           358       -         358       -
      Impairment of fixed assets          1,600       -       1,600       -
      Loss on asset exchange                 -        -         639       -
    Adjusted operating income           $60,092   $38,838  $119,846   $68,856
    Adjusted operating income %           13.5%     12.1%     14.7%     11.7%

    Unallocated
    Reported operating loss             $(4,321)  $(4,754)  $(8,223)  $(5,464)
      Write-off of in-process R&D -
       Diba acquisition                     279       -         279       -
    Adjusted operating loss             $(4,042)  $(4,754)  $(7,944)  $(5,464)



                                    Table III
                                  2009 GUIDANCE
                       RECONCILIATION OF NON-GAAP MEASURES
                                   (unaudited)

                                                         Full Year
                                                   Fiscal 2009 Guidance

    Reported earnings per share range                  $1.55 - $1.70
      Loss on asset exchange                               $0.007
      Charges associated with inventory step-ups           $0.023
      Fixed asset impairment                               $0.011
      Write-off of in-process R&D                          $0.002
      Investment impairment                                $0.161
    Adjusted earnings per share range                  $1.75 - $1.90


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SOURCE Perrigo Company
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(Date:2/10/2016)... ... February 10, 2016 , ... ... offering education, research and medical media, has launched Contagion® , a ... diseases. , As the all-inclusive resource for infectious disease information, Contagion features ...
(Date:2/10/2016)... (PRWEB) , ... February 10, 2016 , ... ... company is unveiling its revolutionary new 2.0 version at the International Roofing Expo ... “put the power of the world's most advanced weather technology in the hands ...
(Date:2/10/2016)... , ... February 10, 2016 , ... ... Video Remote Interpreting (VRI) within Healthcare, recently partnered with Heart City Health ... (VRI). , For nearly 23 years, Heart City Health Center has provided the ...
(Date:2/10/2016)... Huntington, NY (PRWEB) , ... February 10, 2016 ... ... web-based compliance tracking solution, The Guard, to associations of medical professionals throughout the ... HIPAA compliance, including security risk assessments, policies and procedures, employee training, regulatory updates, ...
(Date:2/10/2016)... ... 10, 2016 , ... Emergency rooms provide emergency care to stabilize critical health ... patients with dental emergencies at risk of losing a tooth or their smiles. Dr. ... , Common dental emergencies include:, , Avulsed or knocked-out teeth ...
Breaking Medicine News(10 mins):
(Date:2/10/2016)... Calif., Feb. 10, 2016   Genomic Health, Inc. (Nasdaq: ... the quarter and year ended December 31, 2015. ... fourth quarter of 2015, compared with $69.1 million in the fourth ... currency basis, revenue increased 9 percent compared with the same period ... U.S. revenue was $63.9 million in the fourth quarter of ...
(Date:2/10/2016)... 2016 Mylan N.V. (NASDAQ, TASE: MYL) today ... ended December 31, 2015. --> ... total revenues of $9.45 billion, up 28% on a ... revenues of $9.43 billion. Excluding the impact of the ... branded generics business (the "EPD Business"), full year adjusted ...
(Date:2/10/2016)... -- CSI Specialty Group (CSI) expanded its specialty pharmacy ... Pharmacy Podcast. A free, weekly show, the Specialty Pharmacy ... discussion and context amongst specialty pharmacy peers and professionals. ... The Specialty Pharmacy Podcast, hosted by industry leader ... DiMascio, CHE, CMCE, CPC, is available for streaming and/or ...
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