The Dublin-based firm's first-quarter global consumer health net sales increased 16.2%, or 20.7% organically, excluding exited businesses and losses to currency exchange, to $1.1bn.

Perrigo's OTC drug, infant nutrition and other consumer health product net sales in North America were $701m, up 20.4% from the prior-year period on 15% organic growth, excluding 2019 acquisition of oral care product firm Ranir Global Holdings Inc. as well as losses from exited businesses and to currency exchange. (Also see "Ranir Oral Care Deal Could Brighten Perrigo's Turnaround Chances" - HBW Insight, 13 May, 2019.)

In addition to e-commerce growth, it said the North America OTC business net sales growth was driven by overall OTC category growth and increased demand related to COVID-19; market share gains from other private label/store brand providers due to greater consumer purchases of existing and new products; and increased store brand penetration market-wide compared to national brands.

Its consumer products international net sales increased 9.1% to $383m, or 14.1% organically. Net sales growth came on its brand OTC sales attributed to COVID-19 in the upper respiratory and vitamins, minerals and supplements categories and growth in is UK store brand business.

It reported 77-cents diluted earnings per share for the quarter after reporting 47 cents a year ago. Adjusted diluted EPS for the quarter increased 6.5% to $1.14.

'Positive' Signs Abound For Perrigo, But 'Uncertainty' From Pandemic Complicates Outlook

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