Perrigo's API Business Reports Rise in Sales, Operating Profits

The active pharmaceutical ingredient (API) business segment of Perrigo (Allegan, MI) reported a 4.3% rise in sales in its fiscal fourth quarter, ended June 30, 2012, compared with the year-ago period, to $38.4 million. Fourth-quarter operating profits for the API business tripled, to $18 million. The performance of the API segment was favorably impacted by a commercial agreement with a customer to supply a generic product that was launched in the fourth quarter, and which unexpectedly received a 180-day exclusivity status, Perrigo says. For the full...

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