Perrigo Updates Segment Reporting Structure

DUBLIN, Jan. 10, 2017 /PRNewswire/ -- Perrigo Company plc (NYSE: PRGO; TASE) today announced that it has changed its reporting segments to better align with the Company's organizational structure. Beginning with the fourth quarter of calendar year 2016, the Company's new reporting segments are:

• Consumer Healthcare Americas – Comprises the legacy U.S., Mexico and Canada consumer healthcare business (OTC, contract, infant formula and animal health categories).
• Consumer Healthcare International – Comprises the legacy Branded Consumer Healthcare segment and now includes our consumer focused businesses in the U.K, Australia and Israel, which were previously reported in the legacy Consumer Healthcare segment. This segment will also include our U.K. liquids licensed products business, which was previously reported in the Prescription Pharmaceuticals segment.
• Prescription Pharmaceuticals – Comprises the legacy U.S. Prescription Pharmaceuticals business.
• Specialty Sciences – Will continue to comprise royalties from Tysabri®.
• Other – Will continue to comprise the legacy Active Pharmaceutical Ingredients (API) business.

The changes to the reporting segments have no impact on the Company's historical consolidated financial position, results of operations, or cash flows. In order to aid in comparability to historical financial data, the Company has recast selected financial statements and metrics utilizing the new reporting segments. A current report on Form 8-K containing recast quarterly and annual information for calendar years 2016, 2015, 2014 and 2013 will be issued today.

About Perrigo

Perrigo Company plc, a leading global over-the-counter ("OTC") consumer goods and pharmaceutical company, offers patients and customers high quality products at affordable prices. From its beginnings in 1887 as a packager of home remedies, Perrigo, headquartered in Ireland, has grown to become the world's largest manufacturer of OTC healthcare products and supplier of infant formulas for the store brand market. The Company is also a leading provider of generic extended topical prescription products and receives royalties from the sales of the multiple sclerosis drug Tysabri®. Perrigo provides Quality Affordable Healthcare Products® across a wide variety of product categories and geographies primarily in North America, Europe, and Australia, as well as other markets, including Israel, China and Latin America.

Forward-Looking Statements

Certain statements in this press release are "forward-looking statements." 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 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, including the timing, amount and cost of share repurchases, future impairment charges, the ability to achieve its guidance and the ability to execute and achieve the desired benefits of announced initiatives. These and other important factors, including those discussed under "Risk Factors" in the Company's Form 10-KT for the six-month period ended December 31, 2015, as well as the Company's subsequent filings with the SEC, 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.

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SOURCE Perrigo Company plc