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April 7, 2020, 5:14 p.m. EDT

Perrigo sees strong sales amid coronavirus pandemic

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    Perrigo Co. PLC (PRGO)

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By Wallace Witkowski

PRGO

Perrigo Co. /zigman2/quotes/201110862/composite PRGO -0.47% said late Tuesday it experienced a first-quarter sales boost due to the COVID-19 pandemic. The over-the-counter drug maker said it expects adjusted operating income of $220 million to $225 million on revenue of about $1.3 billion. Analysts surveyed by FactSet expect adjusted operating income of $195 million, or earnings of 96 cents a share, on revenue of $1.26 billion. "During the first quarter, Perrigo continued to experience strong growth across all business segments, while also benefiting from a dramatic surge in demand in March related to the COVID-19 pandemic," Murray Kessler, Perrigo chief executive, said in a statement. Perrigo shares rose 3.2% after hours, following a 1% decline to close at $47.08 in the regular session.

/zigman2/quotes/201110862/composite
US : U.S.: NYSE
$ 54.77
-0.26 -0.47%
Volume: 1.25M
May 29, 2020 4:00p
P/E Ratio
39.82
Dividend Yield
1.64%
Market Cap
$7.47 billion
Rev. per Employee
$446,340
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