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Perrigo FOR RELEASE PERRIGO REPORTS FIRST QUARTER 2021 FINANCIAL RESULTS FROM CONTINUING OPERATIONS Consumer Transformation Nearing Completion Ahead of Schedule Rx Transaction On - Track to Close in Q3'21 ; Rx Segment Now Reported in Discontinued Operations 2021 Guidance Reaffirmed EXHIBIT 99.1 Dublin , Ireland - May 11 , 2021 - Perrigo Company plc ( NYSE ; TASE : PRGO ) , a leading global provider of Consumer Self - Care Products , today announced financial results from continuing operations for the first quarter of fiscal year 2021 ended April 3 , 2021. The Consumer Self - Care Americas ( " CSCA " ) segment , the Consumer Self - Care International ( " CSCI " ) segment and Corporate are included in results from continuing operations . Financial results from the generic Rx pharmaceuticals business are reported as discontinued operations . All comparisons are against the prior - year fiscal first quarter , unless otherwise noted . President and CEO , Murray S. Kessler commented , " Two years ago , we began our journey to transform Perrigo from a healthcare to a consumer self - care company and with the actions taken this quarter , that transformation is now nearly complete . On March 1 , 2021 , we announced the divestment of our generic Rx business , our tenth transaction over the last two years , essentially completing our portfolio reconfiguration . We have made the necessary investments in infrastructure , capabilities , talent and capacity , and as a result have restored Perrigo to growth , all while weathering the storm of a horrific global pandemic . From where I sit , Perrigo is re - born . " Kessler further noted , " The reported declines in the first quarter were distorted by consumer pantry loading in the year ago quarter and by a historically weak cough / cold season this year , both of which were the result of COVID - 19 . Our business remains strong , even during this volatile environment , as evidenced by Perrigo's first quarter 2021 two - year reported and organic compound annual growth rates , compared to the pre - COVID first quarter of 2019. Additionally , Perrigo's first quarter performance results were in line with our expectations . Looking ahead to the rest of the year , we are encouraged to see the recent increases in retail store foot traffic , more people traveling again , and children returning to school in the fall . Further , according to leading sources , the 2021- 2022 cough / cold season is expected to be more normal . That , in combination with Perrigo's durable business fundamentals , strong pipeline of new product launches , productivity improvements in progress and e - commerce leadership , provides us confidence in our ability to deliver a strong second half and is why we are reaffirming our ' 3/5/7 ' growth guidance for 2021. " Kessler concluded , " Perrigo is now a pure - play consumer self - care company that is on - trend and growing . When the Rx deal closes , we will have approximately $ 2 billion in cash to support the growth of the business and strengthen our balance sheet . We believe this represents a significant 1