Oct. 27 (Bloomberg) -- Perrigo Co. declined as much as 7.6 percent after it reported quarterly earnings that analyst Natali Gotlieb at I.B.I.-Israel Brokerage & Investments ltd. said showed the maker of over-the-counter generics was facing more competition.
Shares were down 5.5 percent, the biggest slump since Oct. 4, to 340 shekels at 4:07 p.m. in Tel Aviv.
“The results were above expectations, but when you look within the report there are signs of higher competition in the main sectors of the company,” Gotlieb said by phone.
To contact the reporter on this story: Shoshanna Solomon in Tel Aviv at email@example.com
To contact the editor responsible for this story: Gwen Ackerman at firstname.lastname@example.org