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Perrigo’s API business reports lower operating profits

1:29 AM MDT | August 19, 2013 | Deepti Ramesh

The active pharmaceutical ingredients (API) business of health-care products firm Perrigo (Allegan, MI) reports a 6.5% rise in sales in the company’s fourth quarter, ended 29 June 2013, compared with the year-ago quarter, to $40.9 million. Operating profits for the API business decreased 42.8% in the fourth quarter, to $10 million. The API segment's fourth-quarter sales increased due primarily to the product mix, but it was offset by increased competition on specific products, Perrigo says. Fourth quarter margins in the API business were impacted by lower...

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