Perrigo Announces Divestment of Infant Formula Business to Focus on High-Margin Self-Care Products
During its third-quarter 2026 earnings call, Perrigo (PRGO) announced a strategic agreement to divest its infant formula business. This move is intended to streamline operations, reduce capital expenditures, and free up capital for higher-margin non-prescription health products within the company's self-care portfolio. The company reported significant digital momentum, with U.S. e-commerce now accounting for 22% of its U.S. volume, a substantial increase from 13% in 2022. Despite cautious retailer ordering patterns ahead of the cold season, Perrigo achieved market share gains in both U.S. store-brand over-the-counter (OTC) products and European health brands.