Starboard Value Jeffrey Smith pitched store-brand pharmaceutical company Perrigo as his best investment idea now, during a conference Tuesday.

In addition to Perrigo, Smith also advocated for Altaba, the former Yahoo, which he said will benefit from tax reform once it makes its way through Congress.

Perrigo makes versions of ibuprofen, liquid cold medicines and other products that fly under the name of retailers including CVS. The stock has fallen in recent years, but Smith said it presents strong value for investors.

“It’s a beautiful business, and store-brand as a whole is actually a much larger business than any one brand,” Smith said during the Delivering Alpha conference presented by CNBC and Institutional Investor in New York Tuesday.

Shares jumped more than 4 percent in morning trade.

Smith is the CEO at Starboard Value. He is an activist investor and has been able to influence a number of companies by getting board members appointed. This year he placed seven members on the board of Perrigo.

Earlier this year, he stressed the need for tax reform, particularly in allowing companies to bring back profits stored overseas at lower rates.

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Source: Investment Cnbc
Starboard Value CEO Smith pushes Perrigo, Altaba as best ideas