ALLEGAN – Generic drugmaker Perrigo posted a 46 percent rise in quarterly profit, helped by strong sales in its consumer healthcare segment and set a fiscal 2009 earnings view that would meet or beat expectations.
The company reported fourth-quarter profits of 27.5 million or 29 cents a share, compared with net income of $18.8 million or 20 cents a share, a year ago.
Excluding certain charges, the company, which markets over-the-counter and prescription drugs, earned 39 cents a share for the fourth-quarter ended June 28. Net sales rose 34 percent to $500.2 million.
Analysts were expecting earnings of 41 cents a share, before special items, on revenue of $470 million, according to Reuters Estimates.
Consumer healthcare segment’s net sales for the quarter were $375 million, up 46 percent, including $75 million in new product revenue, led by ulcer drug omeprazole and antihistamine cetirizine.
Perrigo forecast fiscal 2009 earnings to be $1.90 to $1.98 per share and expects revenue growth of 13 percent to 18 percent.
Analysts were expecting earnings of $1.95 on revenue of $2.03 billion for the period.
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