September 12, 2017 / 4:01 PM / 2 months ago

Starboard Value says Amazon sales a boon for Perrigo

NEW YORK (Reuters) - The distribution channel of Amazon.com Inc. (AMZN.O) represents a big opportunity for drug maker Perrigo (PRGO.N), Starboard Value founder and CEO Jeffrey Smith said on Tuesday.

Birds are seen on the logo of generic drugmaker Perrigo Co outside their new factory in the city of Yeruham, in southern Israel March 2, 2016. REUTERS/Amir Cohen

Smith, speaking at the Delivering Alpha event hosted by CNBC, said he does not view Amazon as a threat but rather as a prime distribution channel for Perrigo’s generic drugs and other products.

Starboard is a major Perrigo shareholder who played a direct role in shaking up the company’s board and in pressing the company to conduct a strategic review for its generics business.

Reporting by Michael Flaherty; Editing by Chizu Nomiyama

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