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Perrigo Q4 net sales increased 10.7%

Christian Fernsby |
Perrigo Company today announced financial results for the fourth quarter nded December 31, 2019.

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Topics: PERRIGO   

Consolidated reported net sales increased 10.7% to $1.3 billion.

Adjusted net sales excluding currency increased 13.4% compared to the fourth quarter 2018.

The increase was driven by increased demand for existing products, the addition of Ranir and new product sales of $58 million, partially offset by normal levels of pricing pressure and $9 million in discontinued products.

Adjusted organic net sales were up 7.0%.

Reported net loss was $19 million versus net income of $82 million in the prior year period, due primarily to non cash impairment charges of $142 million primarily in the RX segment.

Excluding certain charges, fourth quarter 2019 adjusted net income was $145 million versus $132 million for the same period last year.

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