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Perrigo

Manufacturer of over-the-counter drugs and nutrition products.

Headquarters:
515 Eastern Avenue
Allegan, MI 49010
Employees: 6,000
CEO: Joseph Papa
Stock Symbol: PRGO

Perrigo develops, manufactures and distributes over-the-counter (OTC) and generic prescription (Rx) pharmaceuticals, infant formulas, nutritional products, dietary supplements and active pharmaceutical ingredients (API). 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 logistics operations have evolved over the years to include the United States, Israel, Mexico, the United Kingdom, India, China and Australia.

Consumer Health Care: The Consumer Health Care operation includes the company's U.S., U.K. and Mexico manufacturing operations supporting the sale of OTC pharmaceutical and nutritional products. The store-brand products contain the same active ingredients as the advertised brands for less cost to the consumer. With store brands, each retailer sells products under its store or another chosen brand name.

Perrigo offers a broad line of high-quality products comparable in quality to major brands such as Tylenol, Advil or One-A-Day. For example, Tylenol has acetaminophen as an active ingredient and is available in stores' analgesic (pain reliever) aisle. Store-brand acetaminophen is located next to the national brand, offering the same active ingredient (acetaminophen) and the same pain relief.

Active Pharmaceutical Ingredients (API): Primarily through its Chemagis business, Perrigo develops, manufactures and markets the complex chemicals and active pharmaceutical ingredients used worldwide by the generic drug industry. Some of these ingredients are also used in Perrigo's own pharmaceutical products. We manufacture API at facilities in Israel, Germany and China.

Rx Pharmaceuticals: Perrigo owns the largest line of generic dermatological products in the U.S. The company recently added Paddock Laboratories to its portfolio of safe, FDA-approved genetic products.

Nutritionals: Perrigo is one of the nation's largest manufacturers of nutrition products for the store brand market. Nutrition products include infant formula, pediatric nutritionals and vitamins, minerals, and supplements. Perrigo's store brand infant formula business provides families with high-quality nutrition at sensible prices. The company's powdered infant formulas are manufactured to strict FDA standards in state-of-the-art facilities located in the U.S.A.

In 2012, Perrigo reported total sales of $3.17 billion, a 15% increase, and net income of $469.4 million.

History

In 1887 Luther Perrigo, the proprietor of a general store and apple-drying business, had the idea to package and distribute patented medicines and household items for country stores. Located in Allegan, MI, the L. Perrigo Company enjoyed steady growth, and by the early 1920s as many as 50 Perrigo salesmen were calling on rural stores throughout the Midwest. The company then developed the "private label" concept as a way to build customer loyalty. For no additional cost, Perrigo offered to imprint the individual store's name on the labels for epsom salts, sweet oil, bay rum and dozens of other "wets and drys" stocked in general stores of that era.

In the mid-1930s, Perrigo landed its first, large private-label customer, the K & W group, a buying organization that grew into the People's Drug Store chain. At about the same time, Perrigo began its manufacturing operation, laying a strong foundation for rapid future growth.

Over the past 25 years national and regional supermarket, drug store and mass merchandise retail chains experienced tremendous growth. As retailers grew, so did their presence in the store-brand arena, as they strove to build customer loyalty with products sold under their own company labels, just as Luther Perrigo surmised they would. Perrigo grew as well, acquiring several businesses throughout the world to augment its position in the store-brand industry.

In 2009, the company decides to exit the consumer products business in order to optimize Perrigo's product portfolio. The Israel Consumer Products business is sold to Emilia Group, a subsidiary of O. Feller Holding Ltd.

The company expanded its product portfolio to include generic prescription pharmaceuticals, creating a more diversified health-care company. To expedite the growth of the generics business, in March 2005 Perrigo acquired Agis Industries, adding their products, pipeline and proprietary technologies to its consumer health-care business.

In February 2011, Perrigo entered the diabetes care category through an exclusive agreement with AgaMatrix, Inc., to sell and distribute store brand blood glucose monitors and test strips in the U.S.

Updated February 22, 2013