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Perrigo Q1 preliminary net sales $1.3 billion

Christian Fernsby |
Perrigo Company announced preliminary unaudited first quarter 2020 net sales and provided GAAP and non-GAAP operating income for the first quarter.

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Topics: PERRIGO   

Consolidated first quarter net sales were approximately $1.3 billion, an increase of 14% compared to the prior year quarter.

Excluding exited businesses and the impact of currency, net sales increased 18%.

Organic net sales were up 11%.

Worldwide Consumer first quarter net sales were approximately $1.1 billion, an increase of 16% compared to the prior year quarter.

Excluding exited businesses and the impact of currency, net sales increased 21%.

Organic net sales were up 12%.

As a reminder, Worldwide Consumer is comprised of the Consumer Self-Care Americas segment, Consumer Self-Care International segment and corporate.

Consumer Self-Care Americas segment first quarter net sales were approximately $700 million, an increase of 20% compared to the prior year quarter.

Excluding exited businesses and the impact of currency, net sales increased 25%.

Organic net sales were up 15%.

Consumer Self-Care International segment first quarter net sales were approximately $380 million, an increase of 9% compared to the prior year quarter.

Excluding exited businesses and the impact of currency, net sales increased 14%.

Organic net sales were up 8%.

Rx segment first quarter net sales were approximately $260 million, an increase of 6% compared to the prior year quarter, which benefitted from the U.S.

Food and Drug Administration approval and launch of generic albuterol sulfate inhalation aerosol.

This more than offset the negative net sales impact of price erosion on testosterone gel 1.62%, which launched in the prior year with 180-day market exclusivity.

The Company estimates first quarter GAAP operating income of $140 million to $145 million, versus $102 million in the prior year quarter.

The Company estimates non-GAAP operating income for the quarter of $220 million to $225 million versus $203 million in the prior year quarter.

Both the reported and non-GAAP estimates include $4 million in supplemental production employee bonuses.


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