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Perrigo proves people still pinching pennies by going Generic over name brand.

|Includes:AGN, JNJ, MRK, MYL, PFE, Perrigo Company (PRGO), PRX, RHHBY

Perrigo shareholders are in store for an even better 2011 year according to (NASDAQ:PRGO) guidance.

Nov 2 (Reuters) - Generic drugmaker Perrigo Co (PRGO.O) (PRGO.TA) posted a better-than-expected quarterly profit, helped by higher sales at its consumer healthcare and nutritionals segments, and raised its full-year adjusted earnings guidance.

For the first quarter ended Sept. 25, the company reported a net income of $74 million, or 79 cents a share, from continuing operations, compared with $51 million, or 55 cents a share from continuing operations, a year ago.

Excluding items, the Allegan, Michigan-based company earned 87 cents a share from continuing operations.

Perrigo PRGO FY11 Up Arrow$3.43 ex. est. $3.60-3.75 new guidance


Revenue at Perrigo, with a market value of about $6.07 billion, rose 21 percent to $641 million.

Analysts on average had expected earnings of 77 cents a share, excluding special items, on revenue of $647 million, according to Thomson Reuters