On January 14, 2020 Perrigo Company plc (NYSE: PRGO) (TASE: PRGO) Chief Executive Officer and President Murray S. Kessler reported that it will highlight the progress of the Company’s transformation into a consumer self-care company and discuss certain financial metrics for recently completed periods later at the 38th Annual J.P. Morgan Healthcare Conference (Press release, Perrigo Company, JAN 14, 2020, View Source [SID1234553176]).

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

The presentation will cover the major initiatives completed in year one of the transformation including efforts to reconfigure the company’s product portfolio, deliver on its base plans, create repeatable platforms for growth, drive organizational effectiveness and capabilities, increase productivity, allocate capital and deliver consistent and sustainable results in-line with consumer-packaged goods peers.

Kessler commented, "We are pleased to see the business responding to our transformation efforts. While we have only completed the first year of our 2 to 3-year transformation journey, the revenue growth we have seen in the second half indicates that we are on the right track. The third quarter was strong. The fourth quarter was outstanding. All business segments delivered stellar fourth quarter net sales results with strong organic growth. The Consumer Self-Care Americas segment achieved reported net sales growth of more than 15% in the quarter versus prior year, with adjusted organic net sales(1) higher by 11%, led by strong performances in both the OTC and infant nutrition businesses. Fourth quarter reported net sales in the Consumer Self-Care International segment increased 8%, with 4% adjusted organic net sales growth. Rx had a nice quarter as well, growing fourth quarter reported net sales by 3% versus last year. Second half results support our belief that the company will exceed its long-term revenue target of 3% growth in the coming year."

Preliminary Unaudited Fiscal Year 2019 Net Sales Results
Benefiting from a strong fourth quarter, consolidated reported net sales for fiscal 2019 were $4.8 billion for the full year, an increase of 2% compared to the prior year. Excluding the impact of currency, adjusted net sales(2) increased 6%. Adjusted organic net sales were up 3%.

Worldwide Consumer reported net sales were approximately $3.9 billion, an increase of 2% compared to the prior year. Excluding the impact of currency, adjusted net sales increased 6%. Adjusted organic net sales were up 2%.

Consumer Self-Care Americas segment reported net sales were approximately $2.5 billion, an increase of approximately 3% compared to the prior year. Excluding the impact of currency, adjusted net sales increased 7%. Adjusted organic net sales were up more than 2%.

Consumer Self-Care International segment reported net sales were approximately $1.4 billion, a decrease of 1% compared to the prior year. Excluding the impact of currency, adjusted net sales increased 5%. Adjusted organic net sales were up 2%.

Rx segment reported net sales were approximately $970 million for the full year, an increase of 5% compared to the prior year.

The Company currently intends to release its fourth quarter and full year 2019 financial results in the fourth week of February 2020.

Mr. Kessler’s presentation is scheduled for today at 4:30 PM EST. Interested parties can access the presentation webcast at View Source

See attached Appendix for reconciliation of adjusted (non-GAAP) to reported (GAAP) financial measures.

(1) Adjusted organic net sales growth excludes the 2019 acquisition of Ranir, the exited animal health and infant foods businesses in both periods, the voluntary global market withdrawal of ranitidine in the third quarter 2019, and the impact of currency.

(2) Adjusted net sales growth excludes the exited animal health and infant foods businesses in both periods, the voluntary global market withdrawal of ranitidine in the third quarter 2019, and the impact of currency.