Perrigo Company posts higher 2016 adjusted EPS guidance in USD9.50 to USD10.10 range.
M2 PHARMA-January 12, 2016-Perrigo Company posts higher 2016 adjusted EPS guidance in USD9.50 to USD10.10 range
(C)2016 M2 COMMUNICATIONS
Pharmaceutical company Perrigo Company (NYSE:PRGO) said on Monday that it expects its adjusted earnings per diluted share to be in the range of USD9.50 to USD10.10 for the full-year 2016.
This marks an improvement from the company's October 2015 guidance of USD9.30 per diluted share as well as 24% to 29% over 2015 adjusted earnings per diluted share guidance range of USD7.65 to USD7.85.
According to the company, the increase in 2016 EPS is due to the completion of the USD500m share buyback in the Q4 2015; the acquisition of Entocort (budesonide) capsules, with the authorized generic capsules expected to be more than accretive to 2016 adjusted EPS after the exclusion of estimates for intangible amortization, transaction costs and integration related expenses; and the acquisition of a portfolio of generic dosage forms and strengths of Retin-A (tretinoin).
In conjunction, the higher full-year adjusted EPS outlook included the unfavorable impact of foreign currency exchange rate changes since originally publishing 2016 guidance on 22 October 2015 and slightly lower expectations within the Specialty Science segment.
((Comments on this story may be sent to firstname.lastname@example.org))
|Printer friendly Cite/link Email Feedback|
|Article Type:||Financial report|
|Date:||Jan 12, 2016|
|Previous Article:||OncoMed doses first colorectal cancer patient under Phase 1b Anti-RSPO3 trial.|
|Next Article:||SurModics buys NorMedix for USD14m.|