Economy: Largest U.S. maker of generic over-the-counter drugs expanding its business

From Bloomberg:

Perrigo Co. (PRGO), the largest U.S. maker of generic over-the-counter drugs, aims to top last year’s record sales by expanding its store brand business and offering new products, Chief Executive Officer Joseph Papa said...

The company ... is benefiting as consumers switch from more expensive brand names amid sluggish economic growth.

Data showed today that sales at U.S. retailers in December rose less than analysts predicted and more Americans than forecast filed applications for unemployment benefits last week.

“It’s still a very challenging economy,” said Papa, who is a pharmacist by training. “Consumers have to cut back and they get between 25 percent to 30 percent in savings.”
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Link:  http://www.bloomberg.com/news/2012-01-12/perrigo-store-brands-to-boost-sales-after-record-year-ceo-says.html