Pharmaceutical Business review

Perrigo Q3 net sales rise 24%

The company has posted a net income of $89.09m for the third quarter 2011, or $0.95 per diluted share, compared to net income of $62.18m, or $0.67 per diluted share, for the comparable period in 2010.

Perrigo‘s operating income was $122.91m, compared to $89.15m for the comparable period in 2010.

For the nine months ended 26 March 2011, the company has posted net sales of $2.05bn, as compared to $1.65bn for the same period last year.

Net income was $253.63m, or $2.72 per diluted share, compared to $174.86m, or $1.88 per diluted share, for the year ago period.

Perrigo has posted operating income of $366.92m for the nine moths ended 26 March 2011, as compared to $259.31m for the same period prior year.

Perrigo chairman and CEO Joseph Papa said the main contributors to this performance were $44m of new product sales, continued operational execution in their Rx and API segments and another solid quarter in Nutritionals.

"In Consumer Healthcare, revenue grew 13% in the quarter as we continue to see very strong demand for our products," Papa said.