Perrigo Company Authorizes Continuation of Share Repurchase Program and Announces Quarterly Dividend

ALLEGAN, Mich., Feb. 1 /PRNewswire-FirstCall/ -- The Perrigo Company today announced that the Board of Directors has authorized the repurchase of $150 million of the Company's common stock through February 1, 2010 under its ongoing share repurchase program. Any remaining balance of the previously authorized program will expire on February 8, 2009. Under share repurchase programs since November 2000, Perrigo has repurchased 11.4 million shares at a cost of approximately $174 million. As of January 25, 2008, Perrigo had 93,080,386 common shares outstanding.

The Company also announced that its Board of Directors declared a quarterly dividend of $0.05 per share, payable on March 18, 2008 to shareholders of record on February 22, 2008.

Perrigo Company is a leading global healthcare supplier that develops, manufactures and distributes over-the-counter (OTC) and prescription pharmaceuticals, nutritional products, active pharmaceutical ingredients (API) and consumer products. The Company is the world's largest manufacturer of OTC pharmaceutical products for the store brand market. The Company's primary markets and locations of manufacturing facilities are the United States, Israel, Mexico and the United Kingdom. Visit Perrigo on the Internet (http://www.perrigo.com).

CONTACT: Arthur J. Shannon, Vice President, Investor Relations and
Communication, +1-269-686-1709, ajshannon@perrigo.com, or Ernest J. Schenk,
Manager, Investor Relations and Communication, +1-269-673-9212,
eschenk@perrigo.com, both of The Perrigo Company

Web site: http://www.perrigo.com//