Perrigo and its portfolio of consumer self-care products earned record net sales for the third quarter, totaling $664 million, an increase of 7.3% compared to a year ago.
Worldwide, the Dublin-based company reported a net sales increase of 3.6%, caused by a slight dip from the European business that reported a pandemic-driven drop of close to 3% for the quarter ended Sept. 26.
"Results for the first nine months of this year reflect the strength of Perrigo's diversified business model, the successful execution of our transformational activities and the dedication and agility of our 11,000 team members worldwide who are successfully navigating this horrific global pandemic,” said Murray Kessler, president and CEO of the company.
"Year to date, Worldwide Consumer net sales have grown high-single-digits, and importantly, organic growth is well above our 3% net sales goal. Consumer Self-Care Americas once again led the way with robust growth in all major franchises, resulting in record third quarter net sales as the segment benefited from channel shifting to e-Commerce and successful new product launches,” he added.
Being prepared for e-commerce aided in Perrigo’s growth, per the CEO, saying they spent the last 18 months getting in good position for online sales. “While there is still work to be done on our transformation, our team is energized about the future and remains committed to our long-term growth targets. Looking ahead, we will continue to leverage our unique and durable capabilities, along with more than $1 billion in committed investments to date, to recapture the Perrigo Advantage and create long-term value for our shareholders,” Kessler said.