Pharmaceutical Marketing Tracking Project
By: Chris Miller
History of
Perrigo
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, Michigan, the L.
Perrigo Company has grown in size and scope
to become a leading global healthcare
supplier that develops, manufactures and
distributes over-the-counter and generic
prescription (Rx) pharmaceuticals, infant
formulas, nutritional products, active
pharmaceutical ingredients (API) and
pharmaceutical and medical diagnostic
products.
“Providing the World with quality, affordable
healthcare products”
-Luther’s Company Vision
Perrigo’s Product Categories
• Over-the-counter and generic
prescription (Rx) pharmaceuticals
• Infant formulas
• Nutritional products
• Active pharmaceutical ingredients
(API)
• Pharmaceutical and medical
diagnostic products.
Building a Global Footprint
Key Acquisitions:
• 1997- Quimica y Farmacia (Mexico)
• Largest retail brand pharmaceuticals in Mexico
• 2001- Wrafton Laboratories Limited (U.K.)
• Largest manufacturer of OTC drugs / nutrition products
• 2005- Agis Industries (Isreal)
• Developing, manufacturing, and marketing API / pharmaceuticals / medical diagnostic equipment
• 2010- Orion Laboratories Pty., Ltd. (Australia & New Zealand)
• Leading supplier of OTC store brand pharmaceuticals
• 2010- PBM Holdings, Inc. (U.S., Canada, Mexico, & China)
• Leading manufacturer of store-brand infant formula
Key Moves:
• 2003-Perrigo India (API, Formulation R&D, Analytic R&D, Auditing)
• 2003- Perrigo China (Raw Material Sourcing, and Quality Support)
PRGO Stock
Price
Dec 28 – Jan 15
•
$102.28 Dec 28, 2012- Perrigo acquires remaining stake in Cobrek Pharmaceuticals, Inc. for
approximately $45M (solidifies leadership in topical foam-based generic drugs)
•
$109.03 Jan 7, 2013- Perrigo gains FDA clearance to manufacturer 3 Codex-Compliant Infant
formulas internationally / announces launch of authorized generic version of Acetadote
(acetylcysteine) Injection
•
$110.23 Jan 10 - $103.85 Jan 11 - Market drop from over valuing
•
$105.10 Jan 15 – Perrigo announces commercial launch of betamethasone valerate foam .12%, the
generic equivalent of Luxiq® Foam, originally filed under Cobrek^
PRGO Stock
Price
Jan 16– Jan 31
•
$104.00 Jan 18 – Perrigo to release its Second Quarter Fiscal Year 2013 results on Feb. 1
•
$104.21 Jan 22 - Perrigo launches store brand version of Nicorette Mini Nicotine Lozenges (this
launch strengthens leading store brand position in smoking cessation products)
•
$101.61 Jan 24 - Perrigo partnered with Ther-Rx Corp. and announced the availability of Gynazole
for prescribing (treats yeast infections)
•
$103.12 Jan 25 - Perrigo Nutritionals Unveils new packaging innovation SmarTub Infant Formula
Package (leading infant formula company supplying mass retailers, grocers, and drugstores with their
own store brand infant formulas)
•
PRGO Stock
Price
Feb 1 – Feb 15
$105.28
Feb 1
•
•
•
Perrigo acquires Velcera Inc. for $160M, adding #1 OTC flea and tick value brand, PetArmour (positions
perrigo to launch multiple veterinary quality national alternatives)
• Perrigo commences launch of Clobetasol Emulsion Propionate Foam, .05%, generic of Olux® -E Foam,
0.05% (received 180 days of generic exclusivity)
• Perrigo Reports Second Quarter Revenue, Adjusted Earnings and Operating Cash Flow (adjusted net
income inc. 14%, GAAP net income inc. 6%, adjusted earnings per share inc. of ~$.70)
$106.73 Feb 5 – Perrigo confirms FDA approval for Testosterone Gel 1%, equivalent to AbbVie's AndroGel®
1% (essentially benefiting off all of the competitor’s advertising)
$111.53 Feb 11 – Perrigo acquires U.K. based Rosemont Pharmaceuticals for $283M (expands international
presence, R&D capabilities, and Perrigo’s liquid drug line)
PRGO Stock
Price
Feb 16 – Mar 15
•
$114.73
•
•
Feb 19
Perrigo confirms first to file patent challenge for Generic Version of Testosterone Gel 1.62%
• Feb 15 Unimed Pharmaceuticals filed suit against Perrigo alleging patent infringement,
although Perrigo filed in Nov 2, 2011
Sergeant’s Pet Care Products Unleashes Pronyl OTC® Flea and Tick Spray for Dogs and Cats
(the only generic to Frontline® Spray currently available)
PRGO Stock
Price
Mar 16– Apr 11
•
$117.20 Mar 18 – Perrigo to begin shipments of Guaifenesin Extended-Release 600mg Tablets (first
store brand equivalents to Mucinex® 600mg Extended Release Tablets)
•
$118.25 Mar 22 – The Pomerantz Firm, Glancy Binkow & Goldberg LLP, and Robbins Geller Rudman
& Dowd LLP announce the Notice of Proposed Settlement regarding the Perrigo Company Securities
Litigation Settlement (misled investors regarding the Company’s exposure to at least $18M of
Auction Rate Securities [fair value $14.5M] the impairment had an impact of ~$0.16 per share on net
income)
•
$118.87 Apr 1 – Perrigo closes acquisition of Companion Animal Health Company, Velcera, Inc.
•
$120.78 Apr 2 – Perrigo Stock hits New 52 – Week High
Works Cited
"Perrigo Co." msn MONEY. Microsoft. Web. 11 Apr 2013.
<http://investing.money.msn.com/investments/stock-price/?symbol=PRGO>.
"About Us." Perrigo. Perrigo Employees. Web. 11 Apr 2013.
<http://www.perrigo.com/about/about-perrigo.asp&xgt;.
"Case - Perrigo Company." Pomerantz Law. eLawMarketing, 03 Mar
2013. Web. 11 Apr 2013. <http://www.pomerantzlaw.com/cases/perrigo-company>.
Any Questions?