Navigation Links
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.

(Logo: http://photos.prnewswire.com/prnh/20120301/DE62255LOGO )

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 seeking cost-effective alternatives for the treatment of common ocular conditions. This acquisition serves as another example of our commitment to provide consumers everywhere with quality, affordable healthcare offerings."

From its beginnings as a packager of generic home remedies in 1887, Allegan, Michigan-based Perrigo Company has grown to become a leading global provider of quality, affordable healthcare products. Perrigo develops, manufactures and distributes over-the-counter (OTC) and generic prescription (Rx) pharmaceuticals, infant formulas, nutritional products, animal health, dietary supplements and active pharmaceutical ingredients (API). 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 logistics operations have evolved over the years to include the United States, Israel, Mexico, the United Kingdom, India, China and Australia. Visit Perrigo on the Internet (http://www.perrigo.com).

Note: Certain statements in this press release are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbor created thereby. These statements relate to future events or the Company's future financial performance and involve known and unknown risks, uncertainties and other factors that may cause the actual results, levels of activity, performance or achievements of the Company or its industry to be materially different from those expressed or implied by any forward-looking statements. In some cases, forward-looking statements can be identified by terminology such as "may," "will," "could," "would," "should," "expect," "plan," "anticipate," "intend," "believe," "estimate," "predict," "potential" or other comparable terminology. The Company has based these forward-looking statements on its current expectations, assumptions, estimates and projections.  While the Company believes these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond the Company's control. These and other important factors, including those discussed under "Risk Factors" in the Company's Form 10-K for the year ended June 30, 2012, as well as the Company's subsequent filings with the Securities and Exchange Commission, may cause actual results, performance or achievements to differ materially from those expressed or implied by these forward-looking statements. The forward-looking statements in this press release are made only as of the date hereof, and unless otherwise required by applicable securities laws, the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.


'/>"/>
SOURCE Perrigo Company
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. Perrigo Company Will Release Third Quarter Fiscal 2012 Results On May 8, 2012
2. Perrigo Reports Record Third Quarter Revenue And Earnings And Raises Full Year EPS Guidance
3. Perrigo Company to Present at the Bank of America Merrill Lynch 2012 Healthcare Conference
4. Perrigo Announces FDA Final Approval and Launch of Store Brand OTC Lansoprazole 15mg Capsules
5. Perrigo Receives FDA Approval for Butoconazole Nitrate 2% Vaginal Cream
6. Perrigo Announces FDA Final Approval Of Tris Pharmas Dextromethorphan Polistirex Extended-Release Oral Suspension
7. Perrigo Company To Present At The William Blair Growth Stock Conference
8. Perrigo Receives FDA Approval And Commences Launch Of Clobetasol Propionate Shampoo, 0.05%
9. Perrigo Company Announces Quarterly Dividend
10. Perrigo Company To Present At The Morgan Stanley Global Healthcare Conference
11. Perrigo Company To Acquire Assets Of Sergeants Pet Care Products, Inc., For $285 Million
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/17/2019)... (PRWEB) , ... October 17, 2019 , ... ... a patient receiving the right treatment before it progresses further. With many patients ... resources that can help their correct identification of skin cancer be extremely valuable. ...
(Date:10/15/2019)... LEXINGTON, Ky. (PRWEB) , ... October 15, 2019 , ... ... it may help those suffering in embittered divorce battles make better decisions and become ... Divorce Bullying—How to overcome a bully, be resilient, and STOP the cycle! Don’t be ...
(Date:10/11/2019)... ... 2019 , ... Five New York fitness studios have teamed up to create the first ever ... and sample a variety of the top group exercise classes offered on the West Side ... Pilates on W. 57th St., the Hell’s Kitchen Sweat Crawl will feature 25-minute workout classes ...
Breaking Medicine Technology:
(Date:10/8/2019)... ... October 08, 2019 , ... ... Ralphs, QFC and Fred Meyer, King Sooper, Fry’s, Roundy’s, Smiths and Dillons. , ... grain-free & gluten-free. , “Ingredient purity and fresh taste is paramount for ...
(Date:10/8/2019)... San Jose, CA (PRWEB) , ... October 08, 2019 , ... ... patients with gum disease in San Jose, CA experience relief from this common and ... as possible in order to save adults from living with uncomfortable symptoms, including tender ...
(Date:10/8/2019)... ... 2019 , ... PotentiaMetrics, an Austin, TX based healthcare data ... Officer. Dr. Henderson will be responsible for the development and management of the ... Chair of both the Informatics Governance and the Inpatient Clinical Informatics Committees at ...
(Date:10/8/2019)... ... October 08, 2019 , ... Smile Brands Inc. has been ... monitoring site, Comparably. Smile Brands, a leading dental support organization with nearly 440 affiliated ... to deliver Smiles for Everyone®. The Happiness Award is the latest in a ...
(Date:10/8/2019)... ... ... 2019, husband and wife dental team, Dr.’s Michael and Azita Mansouri, will open their Marietta ... year that Mansouri Family Dental Care & Associates has held the event to ... a great turnout, serving over 300 people in a single day in the past. Doors ...
Breaking Medicine News(10 mins):