Company: PRGO
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001585364-25-000056
Chunk: 138

Company: PERRIGO Co plc
Filing Date: 2025-05-07
Form: 10-Q
Item: Part II, Item 1
Chunk 138
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0% as growth in the Minoxidil franchise was more than offset by lower net sales of Mederma® due to service issues that are anticipated to alleviate in the second quarter of 2025.

•Women's Health: Net sales of $15.0 million decreased 44.9% due primarily to initial retailer stocking of Opill®, which launched at the end of the prior year quarter, of $15 million, or an impact to the category of 55.2%.

42

Perrigo Company plc - Item 2CSCA

•VMS and Other: Net sales of $2.4 million decreased 57.1% due primarily to volume decline in the VMS category.

Operating income increased $48.3 million, or 307.6%, due primarily to:

•$46.6 million increase in gross profit driven by the recovery of the infant formula business generating $59.3 million more than the prior year period. This was partially offset by the impact of lower OTC net sales volumes resulting from a previous focus on production of higher margin products and unfavorable net pricing. Gross profit as a percentage of net sales increased 840 basis points compared to the prior year due to benefits from Project Energize and Supply Chain Reinvention programs, in addition to the same factors that benefited gross profit.

•$1.7 million decrease in operating expenses due primarily to lower administrative costs of $8.5 million due primarily to Project Energize. This decrease was partially offset by higher advertising and promotion investments and higher restructuring costs compared to the prior year.

CONSUMER SELF-CARE INTERNATIONAL FINANCIAL RESULTS

 Three Months Ended(in millions, except percentages)March 29, 2025March 30, 2024Net sales$423.1 $437.9 Gross profit$192.2 $204.2 Gross profit %45.4 %46.6 %Operating income$39.6 $26.5 Operating income %9.4 %6.1 %

Net sales decreased $14.8 million, or 3.4%, due primarily to: 

•$21.3 million decrease due to the prior year divestitures of the Rare Diseases and Hospital and Specialty Businesses and the sale of branded products;

•$12.2 million decrease from unfavorable foreign currency translation; partially offset by

•$18.7 million increase, or 4.5%, due primarily to higher net sales of