Perrigo Co. (PRGO) has been performing well in a down market, and analysts have been boosting forecasts. Fiscal full-year earnings estimates are up 2% in just the past week. The company announced record fiscal fourth-quarter results in mid-August.

Company Description

Perrigo is the nation's largest manufacturer of store brand over-the-counter (non-prescription) pharmaceutical products and it manufactures store brand nutritional products. Store brand products are sold by national and regional supermarket, drugstore and mass merchandise chains under their own labels and compete with nationally advertised brands. The Company's products include analgesics, cough and cold remedies, antacids, laxatives, feminine hygiene and smoking cessation products, and vitamins, nutritional supplements and nutritional drinks.

Recent Events

The company recently announced that it was dismissed from a patent infringement lawsuit. Earlier Johnson & JohnsonÂ’s (JNJ) McNeil unit tried sue Perrigo.

PRGO also recently acquired drug and nutritional products maker JB Laboratories

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Perrigo Company (PRGO) is the nation's largest manufacturer of store brand over-the-counter (non-prescription) pharmaceutical products, and it manufactures store brand nutritional products.

Perrigo enjoyed strong upward momentum this week, ascending 7.33% Thursday after Wednesday's 2.93% gain and a 3.60% increase on Tuesday. The company was the subject of an analyst upgrade a few days ago.

Prior to the upgrade, PRGO announced that it acquired drug and nutritional products maker JB Laboratories for about $44 million in cash. The company mentioned that the acquisition is expected to add more than $70 million of annual sales.

Perrigo announced record fiscal fourth-quarter results in mid-August. The company's profit increased by 46% thanks to the hike seen in demand for its consumer health care products.

Record net sales of $500.2 million jumped 34% year-over-year, while net income of $27.5 million climbed from last year's $18.8 million.

Management noted that this was the third

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Perrigo Company (PRGO) is the nation’s largest manufacturer of store brand over-the-counter (non-prescription) pharmaceutical products and it manufactures store brand nutritional products. Store brand products are sold by national and regional supermarket, drugstore and mass merchandise chains under their own labels and compete with nationally advertised brands. The Company's products include analgesics, cough and cold remedies, antacids, laxatives, feminine hygiene and smoking cessation products, and vitamins, nutritional supplements and nutritional drinks.

The company recently announced that it acquired drug and nutritional products maker JB Laboratories for about $44 million in cash. PRGO mentioned that the acquisition is expected to add more than $70 million of annual sales.

The company announced record fiscal fourth-quarter results in mid-August. The company’s profit increased by 46% thanks to the hike seen in demand for its consumer health care products.

Record net sales of $500.2 million jumped 34% year-over-year, while net income of $27.5 million climbed from last year’s

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In last quarter’s letter, we discussed the Fund’s purchase of shares of Sanofi-Aventis S.A. (“Sanofi”), one of the largest pharmaceutical companies in the world. Numerous issues which are clouding the outlook for the pharmaceutical industry – including a stricter Food and Drug Administration, the upcoming Presidential Election in the U.S., intensifying generic competition, and the ongoing push by governments to contain health care costs – in addition to company specific issues, enabled Fund management to purchase shares of this well-financed, highly profitable and cash generative business at what we believe is an attractive valuation, without attributing any value to Sanofi’s pipeline. While we believe Sanofi represents an attractive investment opportunity for the Fund on a stand-alone basis, the company, and the pharmaceutical industry ingeneral, are subject to inherent uncertainties whose outcomes are difficult to predict with a high degree of certainty.

One of the most notable of these uncertainties is

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