On Thursday, Shares of Perrigo Public Limited Company (NYSE:PRGO), lost -4.87% to $147.68.
Perrigo Company plc, declared it is taking actions to drive substantial profit growth in 2016 and beyond. In total, the actions are predictable to add incremental benefits of $175 million when the full run rate of the plan is achieved. With the inclusion of about $0.153 in EPS derived from $500 million in share repurchases to be accomplished in 2015, Perrigo anticipates to deliver adjusted EPS of about $9.45 in 2016. This represents a 22 percent4 improvement over the calendar year 2015 EPS guidance midpoint.
“The actions we are announcing recently are the next step in our strategy to leverage the powerful global platform we have built,” said Joseph C. Papa, Chairman and CEO. “The acquisition of Elan in 2013 offered an international gateway for our durable base business model, and the purchase of Omega Pharma earlier this year offered us a pan-European branded consumer healthcare business that is delivering greater benefits than we originally predictable. We are taking steps to ensure that we fully capture the benefits of our global platform to drive continued strong profit growth and build substantial shareholder value. With these actions we are making a great company – with an outstanding track record of value creation and compelling prospects for continued growth – even better.”
Mr. Papa continued, “These actions will amplify the earnings power of our business, with each dollar of revenue driving greater profit accretion and more value for shareholders. We expect to deliver 22 percent adjusted EPS growth in 2016, even without the full run rate of benefits from our initiatives. Our confidence in the Company’s compelling near and longer-term growth prospects – and steadfast commitment to shareholder value – is underscored by the $2.0 billion repurchase plan we are announcing recently.”
Perrigo Company plc, through its auxiliaries, develops, manufactures, and markets over-the-counter (OTC) consumer goods and pharmaceutical products worldwide. The company operates through Consumer Healthcare (CHC), Branded Consumer Healthcare (BCH), Prescription Pharmaceuticals (Rx Pharmaceuticals), Specialty Sciences, and Other segments.
Shares of Interpublic Group of Companies Inc (NYSE:IPG), inclined 2.12% to $22.18, during its last trading session.
Lesley Bielby has joined Hill Holliday as Chief Strategy Officer, Hill Holliday Chairman & CEO Karen Kaplan declared.
The move marks a return for Bielby; she formerly spent six years as Chief Strategy Officer at Hill Holliday, where she led departments in Boston and New York (2004–2010) with a focus on new business development. Wins during her tenure comprised Rockport, Smith Barney, Chili’s, Toys “R” Us, The American Red Cross, Bank of America, Merrill Lynch, and Novartis.
Bielby will join the agency’s senior leadership team and report to Kaplan.
Bielby was Chief Strategy Officer at DiMassimo Goldstein in New York, in addition to Managing Director of Propolis—the in-house brand consulting and consumer research company. Over the course of her career, she has led strategy for iconic brands such as Weight Watchers, Sallie Mae, Mercedes-Benz, Oxford Healthcare, Audi, and Calvin Klein globally, in addition to upstart brands such as TradeStation, Online Trading Academy, and Caregiver Homes.
The Interpublic Group of Companies, Inc. provides advertising and marketing services. The company operates in two segments, Integrated Agency Networks and Constituency Administration Group. It offers consumer advertising, digital marketing, communications planning and media buying, public relations, and specialized communications disciplines.
Finally, Shares of Celgene Corporation (NASDAQ:CELG), ended its last trade with 1.16% gain, and closed at $117.26.
Celgene Corporation, declared detailed results from the maintenance phase of the TOUCHSTONE phase 2 clinical trial of Ozanimod, an investigational compound, in patients with moderate to severe ulcerative colitis at the American College of Gastroenterology (ACG) Annual Scientific Meeting in Honolulu. In the trial, a significantly greater proportion of patients on Ozanimod achieved or maintained clinical remission at 32 weeks contrast with those on placebo.
“Together with the formerly stated results from the induction phase of this trial, data from the maintenance phase suggest that orally administered Ozanimod has the potential to assist patients with moderate to severe ulcerative colitis,” said Dr. Stephen Hanauer, Medical Director, Northwestern Medicine Digestive Health Center, and Professor of Medicine-Gastroenterology and Hepatology, Northwestern University Feinberg School of Medicine.
The TOUCHSTONE trial evaluated the efficacy and safety of 0.5 mg and 1 mg doses of Ozanimod contrast with placebo after eight weeks of treatment (induction phase) in 197 patients with moderate to severe ulcerative colitis. The primary endpoint was the proportion of patients in remission at week 8. Secondary endpoints were: the proportion of patients achieving a clinical response, the proportion of patients with mucosal improvement and the change from baseline in Mayo score. Formerly stated results showed TOUCHSTONE met its primary endpoint and secondary endpoints with statistical significance for patients on the 1 mg dose of Ozanimod as compared to placebo in the 8-week induction phase.
Celgene Corporation, a biopharmaceutical company, discovers, develops, and commercializes therapies to treat cancer and inflammatory diseases in the United States and Internationally. It markets REVLIMID, an oral immunomodulatory drug for multiple myeloma, myelodysplastic syndromes (MDS), and mantle cell lymphoma; ABRAXANE, a solvent-free chemotherapy product to treat breast, non-small cell lung, pancreatic, and gastric cancers; POMALYST/IMNOVID to treat multiple myeloma; and VIDAZA, a pyrimidine nucleoside analog to treat intermediate-2 and high-risk MDS, and chronic myelomonocytic leukemia, in addition to acute myeloid leukemia (AML).
