ALLEGAN, Mich., March 27 /PRNewswire-FirstCall/ -- Perrigo Company
(Nasdaq: PRGO; TASE) today announced an organizational restructuring to
further enhance the management of the Company's global operations.
John Hendrickson has been named Executive Vice President of Global
Operations and Supply Chain. In this capacity, Mr. Hendrickson will be
responsible for the global manufacturing and supply chain functions for all
of Perrigo's finished dosage Consumer Healthcare and Rx products. He will
oversee operations in the U.S., U.K., and Mexico as well as Perrigo New
York and Perrigo Israel. Most recently, he managed Perrigo's Consumer
Healthcare business. Consumer Healthcare commercial sales and marketing
will report directly to Joe Papa, Perrigo's President and CEO.
Mr. Papa stated, "John brings more than 20 years of industry experience
to his new position. He will establish our manufacturing strategic
direction, determine capital allocation and maximize the effectiveness of
our entire supply chain. I believe the Company is extremely fortunate to
have a leader of John's caliber to spearhead this integration effort."
The Company also announced that Sharon Kochan has been promoted to
Executive Vice President of U.S. Generics. Mr. Kochan will be responsible
for expanding the generic business in the U.S. market and coordinating the
business development activities of our global generic business. Sharon has
served in a number of strategic leadership roles since coming to Perrigo
Israel in 1994, including three years in operational management positions
at Perrigo New York. Most recently he has been Senior Vice President of
Global Generic/API Strategy & Business Development. He earned his
Bachelor's degree in Industrial Engineering from Tel-Aviv University and
his Masters degree in Management Science from Columbia University.
Mr. Kochan is replacing Adam Levitt who is leaving Perrigo to pursue
other interests. Mr. Papa commented, "Following the acquisition of Perrigo
Israel in 2005, Adam led the development of our generic drug sales in the
U.S., provided guidance to our global R&D functions, and, as a member of
the Executive Committee, helped coordinate the integration of our two major
businesses. I appreciate his contribution during the past two years and
wish him the best in his future endeavors."
Mr. Papa added, "Our company has grown into a truly global manufacturer
of over-the-counter and prescription pharmaceutical products. These changes
reflect the need to capitalize on our positions as market leaders in the
store brand and topical generic pharmaceutical markets. Our ability to
vertically integrate our expertise in Active Pharmaceutical Ingredients
across our businesses and introduce new products will drive our future
growth."
Perrigo Company is a leading global healthcare supplier and the world's
largest manufacturer of over-the-counter (OTC) pharmaceutical and
nutritional products for the store brand market. Store brand products are
sold by food, drug, mass merchandise, dollar store and club store retailers
under their own labels. The Company also develops, manufactures and markets
prescription generic drugs, active pharmaceutical ingredients and consumer
products, and operates manufacturing facilities in the United States,
Israel, United Kingdom, Mexico, Germany and China. Visit Perrigo on the
Internet (http://www.perrigo.com).
Note: Certain statements in this press release are "forward-looking
statements" within the meaning of Section 21E of the Securities Exchange
Act of 1934, as amended, and are subject to the safe harbor created
thereby. These statements relate to future events or the Company's future
financial performance and involve known and unknown risks, uncertainties
and other factors that may cause the actual results, levels of activity,
performance or achievements of the Company or its industry to be materially
different from those expressed or implied by any forward-looking
statements. In particular, statements about the Company's expectations,
beliefs, plans, objectives, assumptions or future events or performance
contained in this press release are forward-looking statements. In some
cases, forward-looking statements can be identified by terminology such as
"may," "will," "could," "would," "should," "expect," "plan," "anticipate,"
"intend," "believe," "estimate," "predict," "potential" or the negative of
those terms or other comparable terminology. The Company has based these
forward-looking statements on its current expectations, assumptions,
estimates and projections. While the Company believes these expectations,
assumptions, estimates and projections are reasonable, such forward-looking
statements are only predictions and involve known and unknown risks and
uncertainties, many of which are beyond the Company's control. These and
other important factors, including those discussed under "Risk Factors" in
the Company's Form 10-K for the year ended July 1, 2006, as well as the
Company's subsequent filings with the Securities and Exchange Commission,
may cause actual results, performance or achievements to differ materially
from those expressed or implied by these forward-looking statements. The
forward-looking statements in this press release are made only as of the
date hereof, and unless otherwise required by applicable securities laws,
the Company disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise.
Contact:
Arthur J. Shannon, Vice President, Investor Relations and Communication
(269) 686-1709
E-mail: ajshannon@perrigo.com
Ernest J. Schenk, Manager, Investor Relations and Communication (269)
673-9212
E-mail: eschenk@perrigo.com
SOURCE Perrigo Company
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Related links:
http://www.perrigo.com
CONTACT:
Arthur J. Shannon, Vice President, Investor
Relations and Communication, +1-269-686-1709,
ajshannon@perrigo.com or Ernest J. Schenk, Manager, Investor
Relations and Communication, +1-269-673-9212,
eschenk@perrigo.com, both of Perrigo Company
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