Company: PRGO
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001585364-25-000056
Chunk: 190

Company: PERRIGO Co plc
Filing Date: 2025-05-07
Form: 10-Q
Item: Item 7
Chunk 190
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Streamlining’ the global portfolio, enterprise operating model and Consumer Self-Care International business; and ‘Strengthening’ what is working by prioritizing and increasing investments behind key ‘High-Grow’ brands.

Our fiscal year begins on January 1 and ends on December 31. We end our quarterly accounting periods on the Saturday closest to the end of the calendar quarter, with the fourth quarter ending on December 31 of each year.

Our Segments

Our reporting and operating segments reflect the way our chief operating decision maker, who is our Chief Executive Officer ("CEO"), makes operating decisions, allocates resources and manages the growth and profitability of the Company. Our reporting and operating segments are: 

•Consumer Self-Care Americas ("CSCA") comprises our consumer self-care business in the U.S. and Canada. 

•Consumer Self-Care International ("CSCI") comprises our consumer self-care business outside of the U.S. and Canada, primarily in Europe and Australia.

We previously had an Rx segment comprised of our generic prescription pharmaceuticals business in the U.S. and other pharmaceuticals and diagnostic businesses in Israel, which have been divested. The Rx segment was reported as Discontinued Operations in 2021, and is presented as such for all periods in this report. See Item 1. Note 4 for more information.

Recent Developments

•On January 6, 2025, Abbie Lennox was appointed as Executive Vice President and Chief Scientific Officer. 

•In February 2025, Perrigo initiated the Nutrition Network Optimization project to optimize our manufacturing footprint, upgrade packaging capabilities, harmonize quality processes, and enhance our research and development capabilities. We plan to invest approximately $240 million into our infant formula production network over the next three years as a strategic move expected to provide substantial cash returns and secure this business over the long-term. However, as discussed below within Macroeconomic Uncertainty, we have deferred capital expenditures while seeking to minimize the overall impact on the project. 

•On March 10, 2025, the Company signed a definitive agreement to sell Richard Bittner Business AG, an Austrian contract manufacturing business (the "Richard Bittner Business") to HBI Health & Beauty Innovations Limited; as a result, such assets were classified as held for sale. The assets associated with this business were reported within our CSCI segment. The sale of the Richard Bittner Business was completed on April 11, 2025. 

•On May 5, 2025