Jefferies analysts suggested Perrigo’s North American and European consumer health businesses could get a boost in 2020 from COVID-19. Perrigo’s US upper respiratory product revenues are expected to grow 35% in 2020 to $698m, $116m more than initially anticipated, they pointed out on 26 March.

In Europe, Perrigo’s upper respiratory category revenues should grow 17.3% to $325m, about $42m more than expected, but its hygiene and healthy lifestyle revenue is expected to fall 3.9%, greater than earlier expectations of 1.1%, according to Jefferies.

In a separate report, Jefferies analysts noted the COVID-19 outbreak drove a 20% jump in year-over-year sales of OTC drugs and other consumer health products in early March, with pain relief product retail sales up 27% and upper respiratory sales up 35% for the week ended 7 March. (Also see "Pandemic Response In US Consumer Health Market: OTC Pain Relief And Cough/Cold Purchases" - HBW Insight, 3 April, 2020.)

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