Perrigo Shares Jump on FDA's Move to Reclassify Wisconsin Infant-Formula Plant

Dow Jones2025-03-01

By Sabela Ojea

Shares of Perrigo on Friday jumped after the pharmaceutical company said its infant-formula facility in Wisconsin would be reclassified to "no action indicated" by the U.S. Food and Drug Administration.

The stock was up 22% to $29.36 in midday trading, on pace for the largest percentage increase on record. Shares are up 14% in the year to date.

The FDA inspected the facility in October and November.

A "no action" indication means that no objectionable conditions or practices were found during an inspection, according to the FDA.

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

(END) Dow Jones Newswires

February 28, 2025 12:27 ET (17:27 GMT)

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