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Perrigo Company Plc
Perrigo was founded in 1887 by Luther Perrigo in Allegan, Michigan, as a small drugstore.
Perrigo Company Plc
Perrigo was founded in 1887 by Luther Perrigo in Allegan, Michigan, as a small drugstore. The company reincorporated in Ireland in 2013 as part of a tax inversion, though its main operational headquarters remain in Michigan. Patrick Lockwood-Taylor has served as CEO since September 2023, succeeding Murray Kessler. Perrigo's strategy revolves around store-brand over-the-counter medications — its Consumer Self-Care Americas segment produces pain relievers, cough-cold remedies, and digestive health products sold under retailer labels. The company also runs a Consumer Self-Care International division and a Prescription Drug business focused on generic manufacturing. Key product categories include ibuprofen, omeprazole, and nicotine replacement therapies; a single product line may generate hundreds of millions in annual sales. Perrigo operates across North America, Europe, and select markets in Australia and Latin America. The firm employs roughly 9,000 people and maintains principal offices in Allegan, Michigan, as well as Dublin. In January 2024, Perrigo completed the sale of its generic prescription drug business in the United Kingdom to a unit of Advanz Pharma for an undisclosed sum, narrowing its focus to consumer health. Perrigo's Irish holding company structure imposes a different tax and regulatory framework from its US operations. Perrigo's structural differentiator is its dual focus on prescription generics and private-label consumer health — the latter gives it pricing power uncorrelated with branded drug cycles. Its private-label supply agreements with major US retailers provide steady, low-volatility revenue, while the generic division faces the typical erosion of margins. The firm's 2013 reincorporation in Ireland sits at the center of ongoing debates about US corporate tax inversions.
General information
Firm type
Asset Manager
Year founded
1887
AUM
Undisclosed
Location
Region
Europe
Country
Ireland
City
Dublin
Corporate office
Dublin, Ireland
Additional offices
Allegan, Michigan, United States
Principals
Patrick Lockwood-Taylor
President and Chief Executive Officer
Raymond Silcock
Chief Financial Officer
Sector focus
Frequently asked questions
Who controls investment decisions at Perrigo?
Operational and capital allocation decisions are made by CEO Patrick Lockwood-Taylor, CFO Raymond Silcock, and the board of directors. Perrigo is a publicly traded company (NYSE: PRGO), so major strategic moves require board approval and are disclosed in SEC filings. The board includes independent directors who oversee governance alongside management.
Does Perrigo invest in external managers or direct deals?
Perrigo does not function as a family office or asset manager; it is an operating pharmaceutical company. The firm deploys capital into R&D, manufacturing capacity, and acquisitions of consumer health brands or generic drug portfolios. Recent deal activity includes the sale of its UK generics business rather than financial investments.
How does Perrigo generate revenue?
The company earns revenue from selling over-the-counter drugs under retailer private labels — essentially store-brand versions of major brands like Advil, Tylenol, and Prilosec. It also manufactures generic prescription medications. Perrigo's customer base includes Walmart, CVS, Walgreens, and European pharmacy chains. Contracts are typically multiyear supply agreements with volume guarantees.
What is Perrigo's relationship with Ireland?
Perrigo reincorporated in Ireland in 2013, moving its legal domicile from Michigan while keeping its operational headquarters there. The move was classified as a corporate tax inversion, lowering the company's effective tax rate. Perrigo remains registered in Ireland and trades on the NYSE under the ticker PRGO.
Which sectors does Perrigo explicitly avoid?
The firm focuses exclusively on over-the-counter consumer health and generic prescription drugs. It does not pursue branded prescription pharmaceuticals, biologics, or medical devices. This narrow focus is a deliberate strategy to compete only in high-volume, low-cost segments.
Who are Perrigo's main competitors?
Key competitors include Johnson & Johnson's consumer division, Bayer's consumer health unit, Sanofi's consumer health business, and generic manufacturers like Teva and Viatris. Perrigo's private-label model differentiates it by competing directly with these brands on price rather than brand loyalty.
How is Perrigo governed?
Perrigo is a public company with a board of directors elected by shareholders. Executive compensation, audit, and governance are overseen by independent committees, as required by NYSE listing standards. The firm publishes annual proxy statements detailing governance practices.
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