A multi-year strategic framework designed to stabilize operations, streamline the product portfolio, and strengthen organizational capabilities. Key actions include shifting to a category-led operating model, divesting non-core assets, and driving market share gains in store brand OTC and key European brands.

Expected impact: Aims to transform Perrigo into a more focused, disciplined, and consistent consumer self-care business with improved operating margins and reduced leverage.

A three-year global investment and efficiency program launched in Q1 2024 to increase organizational agility, reset the SG&A operating expense base, and enable the 'One Perrigo' growth strategy.

Expected impact: Delivered gross annualized pre-tax savings of approximately $167 million as of the end of FY2025, towards the high end of the estimated $140 million to $170 million range, with $35 million reinvested.

A new two-year enterprise-wide operational enhancement program launched in early 2026 to further streamline operations and enhance organizational effectiveness.

Expected impact: Targeting $80 million to $100 million in annualized run-rate cost savings, with approximately 80% of the savings expected to be realized in 2026.

An initiative launched in 2022 to reduce structural costs, improve profitability and service levels to retail partners, and streamline the global supply chain.

Expected impact: Achieved approximately $157 million in annualized benefits by the end of fiscal year 2025, supporting a global service level of 94%.