Perrigo reports record results for second quarter of 2015

Perrigo has announced its financial results for the second quarter of 2015, during which it set new records in terms of quarterly net sales, adjusted gross margin, adjusted net income and cash flow from operations.

Net sales for the quarter came to $1.53 billion (990.74 million pounds), of which $1.15 billion came from consumer-facing businesses. This represented a year-on-year increase of 34 percent.

Meanwhile, its adjusted net income increased 37 percent to $320 million, with adjusted diluted earnings per share up 25 percent to $2.18. A key impetus for this growth was the recent acquisition of a number of assets from Omega Pharma.

Its Rx segment grew ten percent in the quarter on top of a record performance last year, while adjusted operating income rose to $160 million in the consumer healthcare segment, notwithstanding a decline in the VMS and animal health categories.

The company has made a number of other key acquisitions in the last few months, including the dietary supplement brand Yokebe and a portfolio of leading over-the-counter brands from GlaxoSmithKline.

Joseph Papa, chairman, president and chief executive officer of Perrigo, said: "Our durable business model and future growth prospects are self-evident as we continue to progress on our standalone strategy."