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Despite the stagnant organic sales growth, Perrigo Company plc (PRGO) witnessed a rally last January after its preliminary results indicated a sales expansion in 2019 on a reported basis. However, the company is battling a tax dispute worth ~$2.0B since late 2018, with an outcome not expected until the second half of 2020. Despite a hazy timeline, plans are afoot to separate the low-margin and slow-growth generics pharma business as the company transforms into a more consumer-focused player.
However, it already trades at a sizable premium to the average earnings multiple