Perrigo has posted a net income of $74.38m for the first quarter 2010, or $0.80 per diluted share, compared to $51.86m, or $0.56 per diluted share, for the comparable period in 2009.
Perrigo’s operating income was $111.77m, compared to $72.13m for the comparable period in 2009.
Perrigo is a global healthcare supplier that develops, manufactures and distributes OTC and generic prescription (Rx) pharmaceuticals, infant formulas, nutritional products, active pharmaceutical ingredients (API) and pharmaceutical and medical diagnostic products.
Perrigo chairman and CEO Joseph Papa said that they have started fiscal 2011 well, delivering record earnings for the quarter. The market for store brands continues to grow, now representing approximately 29% of over-the-counter (OTC) and nutritional sales dollars at retail and up 400 basis points in the past two years.
"Our Rx segment continued its strong performance, which was driven by new product sales and growth in over-the-counter Rx (ORx) combined with our continued focus on quality and R&D. Our value proposition continues to resonate well with consumers in all economic conditions," Papa said.