Perrigo Company plc said early Monday that chief executive officer Joseph Papa had resigned and left the company Sunday. Valeant Pharmaceuticals International Inc. plans to name Papa as its next CEO, The Wall Street Journal has reported Friday. Perrigo appointed John Hendrickson as CEO in his stead, effective immediately. Hendrickson had served as president since Oct. 2015, and worked at Perrigo for 27 years, the company said. Perrigo also updated its 2016 guidance in light of reduced pharmaceutical pricing expectations “due to industry and competitive pressures in the sector,” projecting adjusted EPS for the year of between $8.20 and $8.60, compared with the FactSet consensus of $9.52. The company said it may take an impairment charge within its branded consumer healthcare business acquired in March 2015 and set a May 12 deadline to determine if and to what extent an impairment exists.
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