Address: 29 Lehi St., Bnei Brak 51200, P.O.B. 31 Bnei Brak 51100
Joseph S. Papa
Chairman & CEO, Perrigo Company
Exec. V.P., CFO, Perrigo Company
V.P., Perrigo Company & CFO, Perrigo Israel
The late Rafi Lebel Exec. V.P., Perrigo Company & President, Perrigo Israel 3/2005-3/2012
1961 – Perrigo Israel
1887 – Perrigo
Line of Business:
Over-the-Counter and Generic Prescription Pharmaceuticals, Active Pharmaceutical Ingredients (API), Infant Formula and Nutritional Products, Medical Equipment and Diagnostic Products
rom its beginnings as a packager of generic home remedies in 1887, Allegan, Michigan-based Perrigo Company has grown to become a leading global provider of quality, affordable healthcare products. Perrigo develops, manufactures and distributes over-the-counter (OTC) and generic prescription (Rx) pharmaceuticals, infant formulas, nutritional products, pet health, 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. Perrigo employs 9,000 people globally and its annual revenues in 2012 totaled US$3.2bn.
Recent Highlights Since 2006, Perrigo has used the acquisitions of over 15 companies to strengthen Perrigo’s global presence and enhance our business segments: Consumer Health Care, Nutritionals, Rx Pharmaceuticals, and API. So far, these acquisitions have reached a total aggregate value of approximately $2.5 billion. The most recent acquisitions include:
Velcera: In April 2013, Perrigo has closed the acquisition of OTC animal healthcare company Velcera for $160 million in cash. Velcera’s products, including the PetArmor® flea and tick products, are available at major retailers nationwide, offering consumers the benefits of convenience and cost savings while providing high-quality care for their pets. Velcera marks Perrigo’s second acquisition in the emerging OTC companion animal healthcare market, having recently acquired Sergeant’s Pet Care Products, Inc. in October 2012.
Rosemont: In February 2013, Perrigo completed the acquisition of Rosemont Pharmaceuticals Ltd for $283 million. Rosemont’s #1 position in the specialty U.K. oral liquid formulations market strongly compliments Perrigo’s leading U.K. OTC business, enhancing product diversification and the business’s margin profile. The acquisition also uniquely positions Perrigo to launch multiple specialty and generic prescription liquid formulations into the U.K. and continental European markets, enhancing accessibility and affordability for international consumers.
Cobrek: In December 2012, Perrigo acquired its remaining stake in Cobrek Pharmaceuticals for approximately $45 million. This acquisition solidified Perrigo’s leadership position in topical foams-based generic prescription pharmaceuticals and enables Perrigo to capture the full economics of prescription foams as well as maintain control over future development activities in its portfolio of extended topical products.
Sergeant’s Pet Care: In October 2012, Perrigo announced it had closed the acquisition of Sergeants Pet Care Products for $285 million in cash. Sergeant’s is a leading supplier of pet supplies including flea and tick remedies, health and well-being products, natural and formulated treats, and consumable products. Sergeant’s has been caring for pets since 1868, and is America’s oldest full-line pet supplies company with one of the most trusted names in pet care.
Perrigo Israel develops, manufactures and markets generic pharmaceuticals, active pharmaceutical ingredients (API) and innovative dermatological products, and is one of Israel’s 25 largest industrial companies. More than two-thirds of the company’s sales are generated by its international operations, the area where the company sees most potential for further growth. Perrigo Israel has four manufacturing sites worldwide – two in India and two in Israel – and employs more than 1,200 highly trained staff, including Ph.D.s and life sciences professionals. The company’s commitment to innovative R&D is unwavering. Perrigo Israel invests substantial amounts in R&D operations every year in order to build up its global operations, boost sales growth and profitability, and pursue product development.
Perrigo Israel – International Operations
Perrigo Israel supplies leading global pharmaceutical companies with API used in manufacturing pharmaceutical products. Perrigo Israel develops and manufactures generic oral solid prescription (Rx) medications for Europe, including API which are developed and produced by the company and marketed in cooperation with large European agents. Perrigo Israel also develops and manufactures generic topical medications for distribution in the U.S. market, through major wholesalers such as Cardinal Health, McKesson and AmerisourceBergen, as well as large retail chains such as Wal-Mart, CVS, Rite Aid, Walgreens, Albertson’s, Kroger, Safeway and Brooks.
Perrigo Israel – Israeli Operations
The company manufactures under license and also imports pharmaceuticals and medical diagnostic equipment, representing several major pharmaceutical companies in Israel including Siemens, Solvay, Talecris, Sandoz, Celltrion, and Bayer Diagnostics, among others.
The dynamic, flexible and capable management team and dedicated employees have shown the ability to adapt swiftly to changing market demands and take advantage of opportunities in the product pipeline. Perrigo has created a growing, well-diversified company, with a proven track record of robust sales, earnings growth and broader capabilities to excel in the global generic pharmaceutical, API and consumer healthcare markets.
These fundamental strengths provide a platform for building shareholder value by maintaining long-term sales and profitability growth.
Generating Financial Strength
Perrigo’s shares are traded on the NASDAQ and the TASE by leading U.S. and Israeli institutional investors. The company generates strong cash flows, which enable it to invest in R&D and future expansion, thus positioning Perrigo for long-term development growth.