Perrigo is a consumer healthcare company focused on OTC self-care products, operating through two core models. In the U.S., Perrigo is the leading store brand (private label) OTC manufacturer, holding roughly 50% of the store brand market across categories including cough/cold, allergy, pain, digestive health, and skin care. Perrigo manufactures these products for retailers — including Walmart, drug chains, and supermarkets — who sell them under their own brand names at lower prices than national brands. Store brand profitability is driven by manufacturing volume and plant utilization, with roughly 1–2% annual pricing pressure that Perrigo offsets through productivity improvements and mix management. In Europe and internationally, Perrigo competes primarily with its own branded products, holding #1 or #2 positions in key subcategories. Focus brands include Compeed (blister/wound care), ellaOne (emergency contraception), Jungle Formula (insect repellent), and NiQuitin (nicotine replacement). In the U.S., Perrigo also owns branded products including Opill (the first OTC oral contraceptive) and Mederma. Branded products carry meaningfully higher gross margins than the store brand business. Perrigo also operates a U.S. infant formula business, where it is the dominant store brand provider, but this business is under strategic review due to competitive pressure and slower-than-expected share recovery. Perrigo's forward strategy focuses on stabilizing U.S. store brand share, streamlining the portfolio through divestitures, and concentrating investment behind a defined set of high-growth brands to drive top-line growth and margin expansion.