Joseph C. Papa Is New President and CEO at Perrigo Company
The Perrigo Company (NASDAQ: PRGO)(TASE: PRGO) today welcomed Joe Papa as its President and Chief Executive Officer. Mr. Papa succeeds Dave Gibbons who is now the Company's Executive Chairman of the Board.
Mr. Papa, 50, joins Perrigo from Cardinal Health, Inc., an $81 billion global company serving the healthcare industry with a broad portfolio of products and services. Since December 2004, he has served as Chairman and Chief Executive Officer of the Pharmaceutical and Technologies Services segment, a $3 billion contract manufacturing, packaging, analytical services and healthcare services business. Prior to that position, he served as President and Chief Operating Officer of Watson Pharmaceuticals.
Mr. Papa stated, "It is very exciting to be a part of Perrigo's future. I have followed the Company for many years and know first hand its reputation as a leader in consumer healthcare and its timely entry into the generic pharmaceutical industry. I believe Perrigo is well positioned to meet consumers' needs for affordable healthcare products and to deliver greater customer value."
Prior to his Cardinal Health and Watson positions, Mr. Papa held management positions at DuPont Pharmaceuticals, Pharmacia Corporation, G.D. Searle and Novartis. He is a graduate of the University of Connecticut with a bachelor's degree in pharmacy and he earned his MBA from Northwestern University's Kellogg Graduate School of Management.
Perrigo will host a conference call to introduce Mr. Papa at 10:00 a.m. (ET) Tuesday, October 10. The conference call will be available live via web cast to interested parties on the Perrigo website http://www.perrigo.com/ or by phone 866-240-0819, International 973-582-2708, and reference ID#7953093. A taped replay of the call will be available beginning at approximately 2:30 p.m. (ET) Tuesday, Oct. 10 until midnight Tuesday, Oct. 24. To listen to the replay, call 877-519-4471, International 973-341-3080, access code #7953093.
The 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.
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