Core Viewpoint - Perrigo Company plc (NYSE:PRGO) has experienced significant stock decline, reaching a new 52-week low due to weak net sales and a strategic review of its infant formula business [1][3]. Financial Performance - Perrigo's stock fell to $15.05 during intra-day trading, ultimately closing at $15.10, reflecting a 25.21% decrease [2]. - The company's net sales decreased by 4% to $1.043 billion from $1.087 billion year-over-year, impacted by lower organic sales and divestitures [2]. - Despite the sales decline, Perrigo reported a net income of $7.5 million, a recovery from a $21 million net loss in the same period last year [3]. Strategic Review - Perrigo is conducting a strategic review of its infant formula business, which may lead to a potential sale [3]. - The review aims to ensure the company's portfolio is positioned for sustainable growth and free cash flow generation, as stated by the President and CEO Patrick Lockwood-Taylor [4]. - The company acknowledges that while its infant formula operations have stabilized, the changing external environment has made it less strategic in alignment with its consumer health OTC businesses [5].