NEW YORK ( TheStreet) -- TheStreet's Debra Borchardt met with Perrigo ( PRGO) CEO Joe Papa to talk about some of the new products and changes the company is making.
Perrigo is celebrating its 125th anniversary this year, and on Friday it moved from the Nasdaq to the NYSE. Although the company experienced 18% year-over-year growth, it still managed to miss estimates on four of its last six earnings reports. Papa is hoping to change this, and one way is by repackaging of the company's baby formula. Papa argues that Perrigo's formula is the same quality as national brands, but at about half the price. With baby formula costing so much these days, Perrigo is hoping that a lower cost will help drive sales. Perrigo also hopes its recent acquisition of a pet company will play a role in higher sales. Its flea and tick products should sell well given a recent increase in the tick population. Papa joked, "it was a slow season initially, but recently ticked up." Perrigo also hopes to see higher sales from its pollen and allergy products, with pollen remaining at higher-than-usual levels for this time of the year. Although the allergy season did get off to a sluggish start, it continues to remain "elongated," according to Papa. Perrigo uses the same ingredients as the national brand, but offers its product for a 25% to 30% discount to the national brand, he added. -- Written by Bret Kenwell in Petoskey, Mich. Follow @traderboy23