Perrigo Glows From Mucinex Private Label Plan, Starboard Plug
This article was originally published in The Pink Sheet
Perrigo plans to introduce two more Mucinex store brand products within six months after a series of manufacturing stumbles, CEO John Hendrickson says. The firm's private label prowess, says activist investor Jeffrey Smith, is insurance that it will grow as e-commerce grows.
You may also be interested in...
Predominant US OTC private label/store brand provider plans commercialize products in second half. Firm has yet to set date to release 2021 full-year and fourth-quarter results.
Perrigo plans late September launch of a store brand OTC of Nexium 24HR after FDA’s ANDA approval and settlement of patent litigation with AstraZeneca. But it faces competition from Aurobindo's generic OTC esomeprazole 20 mg delayed-release capsules.
Some sort of "pharmacy intervention" could aid switches, CEO Hendrickson says; board bloc is still pushing to divest the generic Rx segment but apparent second-quarter sales validation isn't enough to persuade Hendrickson to stay on.