ALLEGAN, Mich. — New product sales and the acquisition of Paddock Labs prompted second-quarter net sales to jump 17% to $838 million for Perrigo for fiscal year 2012, the drug maker said.
For the company's consumer healthcare products segment, net sales rose 10% to $471 million, compared with the year-ago period, thanks to new product sales of $26 million and the diabetes care category, along with an increase in sales of existing products of $20 million.
Meanwhile, the prescription pharmaceuticals segment garnered an 82% increase in second-quarter net sales to $80 million, which was driven by net sales of $69 million from the Paddock Labs acquisition, legacy new product sales of $5 million, market share gains and favorable pricing on select products.
Looking ahead, Perrigo chairman and CEO Joseph Papa said the company is excited about the future and noted the company is planning product launches of generic versions of Mucinex, Prevacid, Delsym and Allegra D12 in the second half of fiscal year 2012.
"The strength across our businesses continued this quarter, driving record results," Papa said. "As we look forward to the second half of fiscal 2012, we expect this strength to continue."