Perrigo announces restructuring of Belgian consumer health business

Perrigo has announced a series of restructuring initiatives to bolster the value of its branded consumer healthcare business in Belgium.

The measures will focus on the Omega Pharma business and are designed to enhance long-term profitability by streamlining operations. A consultation process has now commenced to better align the organisation to current business and market dynamics.

As part of this process, a definitive agreement has been signed with EuroGenerics to terminate their distribution agreement for Stada Arzneimittel in Belgium from the end of the year, while the Etixx brand will also be sold off at the same time.

Additionally, a distribution agreement with the company holds with Meda will be allowed to naturally expire this month.

Perrigo's chief executive officer John Hendrickson said: "Today's announcement furthers the Perrigo board of directors' and management's commitment to delivering shareholder value."

The company also recently announced the appointments of Geoffrey Parker and Theodore Samuels as new independent members of its board of directors, a move that will further enhance Perrigo's governance.

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