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Perrigo Company Acquires Ophthalmic Product Portfolio From Fera Pharmaceuticals, LLC For An Upfront Payment Of $93 Million
Date:6/17/2013

ALLEGAN, Mich., June 17, 2013 /PRNewswire/ -- Perrigo Company (NYSE: PRGO; TASE) today announced that it has signed a definitive agreement to acquire and has completed the acquisition of an ophthalmic sterile ointment and solution product portfolio from Fera Pharmaceuticals, LLC and its affiliates (Fera), a privately-held, Long Island, New York-based specialty pharmaceutical company. The acquired portfolio, including nine prescription ANDA products, generated more than $30 million in net revenues during calendar year 2012. Terms of the transaction include an upfront cash payment of approximately $93 million along with potential contingent payments totaling approximately $36 million, certain of which relate to Perrigo securing additional product rights from Fera. Additionally, Perrigo expects to receive a tax benefit as a result of the acquisition, the net present value of which is estimated to be approximately $20 million.

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This acquisition is expected to be more than $0.12 accretive to adjusted EPS for fiscal 2014 and more than $0.04 accretive to GAAP EPS after the inclusion of estimates for intangible amortization, transaction and integration related expenses.

Perrigo Chairman, President and CEO Joseph C. Papa stated, "I'm excited to announce the addition of Fera's ophthalmic ointment and solution products to Perrigo's Rx portfolio. The ophthalmic category has been one of high strategic interest to Perrigo as we continue to pursue opportunities that strengthen our leadership position within the niche Rx extended topical space. The breadth of the Fera portfolio allows us to become immediately relevant to patients and physicians across the country seek
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SOURCE Perrigo Company
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