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Perrigo increased full-year 2016 adjusted EPS to $10.10

Staff writer |
Perrigo Company increased full-year 2016 adjusted earnings per diluted share guidance to be in a range of $9.50 to $10.10, up from the company's October 22, 2015 guidance of $9.30 per diluted share.

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Chairman and CEO Joseph C. Papa concluded, "We enter 2016 excited about the prospects for our durable business model and plan for growth. We expect to launch greater than $1.2 billion in new products over the next three years, including products on our European branded platform.

"We have the deepest Rx pipeline in our history and are excited about the quality of our M&A pipeline. For these reasons, we remain confident in our ability to deliver on our 2016 growth targets."

Non-GAAP guidance for calendar 2016 excludes estimates for intangible amortization associated with recently announced acquisitions and charges related to on-going and intended restructuring plans.

At this time, a reconciliation to GAAP for these measures for calendar 2016 is impracticable given the uncertainty and potential variability of these items. The unavailable reconciling items could significantly impact the Company's financial results.

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Perrigo Q1 net income $72 million
Perrigo preliminary 2016 net sales $5.6 billion
Perrigo Q2 net loss was $70 million