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Perrigo 2017 consolidated net sales down to $4.9 billion

Staff Writer |
Perrigo Company announced preliminary unaudited results for the calendar year ended December 31, 2017.

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Perrigo CFO Ron Winowiecki commented, "The Perrigo team delivered on its goals and commitments in calendar year 2017 driven by actions taken to simplify, focus and execute on the company's core businesses, a focus on operational execution in challenging end-markets, a cost optimization program that improved our cost structure, and strong cash flow and improved balance sheet flexibility."

Highlights:

Delivered strong calendar year 2017 GAAP (reported) and adjusted net sales at the high end of previous guidance range and operating cash flow above previous company guidance.

Generated net sales in all segments at or ab

ve previous guidance ranges Realized calendar year 2017 reported consolidated net sales of $4.9 billion compared to reported net sales of $5.3 billion in the prior year, lower by 6.3%.

Achieved calendar year 2017 adjusted net sales growth of 1.3% on a constant currency basis compared to the prior year, excluding the year-over-year effect of exited European distribution businesses, the divestiture of the Israel API business and the impact of Entocort.

Realized reported operating income of $0.6 billion; achieved consolidated adjusted operating income of $1.0 billion.

CHC Americas segment achieved calendar year 2017 reported net sales of $2.4 billion compared to $2.5 billion last year, lower by 3.1%; adjusted net sales grew 1.4% on a constant currency basis.

CHC International segment delivered calendar year 2017 reported net sales of $1.5 billion, down 9.8% versus last year; excluding the year-over-year effect of the exited European distribution businesses, net sales grew 2.6% versus last year on a constant currency basis.

RX segment realized calendar year 2017 reported net sales of $0.97 billion, consistent with the prior year, excluding the year-over-year effect of Entocort.


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