Navigation Links
Perrigo to Acquire Assets of Paddock Labs for $540 Million
Date:1/20/2011

an 25 ANDAs pending approval with the U.S. Food and Drug Administration.
  • Compelling Value Consistent with Stated Acquisition Criteria. Assuming a fourth quarter fiscal 2011 close, the transaction is expected to be approximately $0.05 accretive to GAAP earnings per share and, excluding $0.20 of deal-related intangible amortization, $0.25 accretive to adjusted earnings per share in fiscal year 2012. Perrigo's stated goal of Return on Invested Capital accretion is expected to be achieved in fiscal 2013. In addition, the transaction has been structured to allow the Company to preserve its strong balance sheet and financial flexibility.

Transaction terms

Pursuant to the terms of the agreement, Perrigo will acquire substantially all of the assets of Paddock for $540 million in cash. No Paddock debt or cash will be assumed in this transaction. Perrigo intends to fund the transaction using approximately $80 million of cash on hand, $310 million available per the terms of its existing bank debt agreements and $150 million from a new term loan pursuant to a commitment from Morgan Stanley, JPMorgan and Bank of America. The new term loan commitment allows for syndication of an additional $100 million which, if exercised, would reduce the amount funded under existing bank debt agreements.

Perrigo expects to receive a significant tax benefit generated from the deduction of the step-up in tax basis resulting from the acquisition of Paddock's assets. This increase in basis is expected to result in cash tax savings to Perrigo over the next 15 years. The estimated net present value of these savings is approximately $95 million. 

The proposed transaction is subject to customary closing conditions, including notification and clearance under certain antitrust statutes. There are no financing conditions to closing the acquisition agreement. Perrigo expects the transaction to c
'/>"/>

SOURCE Perrigo Company
Copyright©2010 PR Newswire.
All rights reserved

Page: 1 2 3 4 5

Related medicine technology :

1. Perrigo Company Will Release Second Quarter Fiscal 2011 Results on February 1, 2011
2. Perrigo Company to Present at the 29th Annual J.P. Morgan Healthcare Conference
3. Perrigo Company to Present at the Credit Suisse Annual Health Care Conference
4. Perrigo Reports Record Earnings and Raises Full Year Adjusted EPS Guidance
5. Perrigo Company Announces Dividend Increase
6. Perrigo Company Will Release First Quarter Fiscal 2011 Results on November 2, 2010
7. Perrigo Confirms Filing for Omeprazole/Sodium Bicarbonate and Announcement of Patent Infringement Lawsuit by Schering-Plough Healthcare Products
8. Perrigo Confirms Filing for Clobetasol Shampoo and Announcement of Patent Infringement Lawsuit by Galderma
9. Perrigo Confirms Filing for Generic Version of Gynazole-1® Cream and Announcement of Patent Infringement Lawsuit by KV Pharma
10. Perrigo Announces FDA Approval for Over-the-Counter Cetirizine Cherry Syrup
11. Perrigo Company Confirms Patent Challenge for Clobetasol Propionate Emulsion Foam
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/22/2014)... Tenn. , Dec. 22, 2014   TRU-D ... automated, no-touch UV disinfection robot, announced today that the ... Schedule contract through November 2019.   This ... rapidly engage all levels of government purchasers, including Department ... as well as Homeland Security contacts purchasing solutions for ...
(Date:12/22/2014)... HOUSTON , Dec. 22, 2014 Cyberonics, Inc. ... devices for the treatment and management of epilepsy, today announced ... Morgan Healthcare Conference on Wednesday, January 14, 2015, in ... , Cyberonics, President and Chief Executive Officer, will speak at ... presentation can be accessed by clicking on the Investor Relations ...
(Date:12/22/2014)... , Dec. 22, 2014  Mark Farrah ... brief providing a summary of the 2015 marketplace ... enrollment trends.  According to a ... Planning and Evaluation, Department of Health and Human ... enrolled in individual medical plans through the Marketplace ...
Breaking Medicine Technology:TRU-D SmartUVC LLC Awarded General Services Administration Contract to Expand Government Customer Base 2Insights into the Marketplace and Individual Market Growth 2
... Meeting , , ATLANTA, Dec. ... the once-daily antiepileptic drug (AED) Keppra XR(TM) (levetiracetam) extended-release tablets ... additional dosing schedules. The data were among five studies that ... Epilepsy Society (AES) in Seattle. , ...
... Millennium: The Takeda Oncology Company today reported updated ... from the large, international Phase III VISTA(1) trial ... untreated multiple myeloma given VELCADE, melphalan and prednisone ... all patient sub-groups, including those with poor prognostic ...
Cached Medicine Technology:New Keppra XR(TM) Data Highlight Its Role for Patients with Partial-Onset Seizures 2New Keppra XR(TM) Data Highlight Its Role for Patients with Partial-Onset Seizures 3New Keppra XR(TM) Data Highlight Its Role for Patients with Partial-Onset Seizures 4New Keppra XR(TM) Data Highlight Its Role for Patients with Partial-Onset Seizures 5New Keppra XR(TM) Data Highlight Its Role for Patients with Partial-Onset Seizures 6Continued Overall Survival Advantage Reported From Pivotal Trial of VELCADE(R) (Bortezomib) for Injection Based Therapy in Patients With Previously Untreated Multiple Myeloma 2Continued Overall Survival Advantage Reported From Pivotal Trial of VELCADE(R) (Bortezomib) for Injection Based Therapy in Patients With Previously Untreated Multiple Myeloma 3Continued Overall Survival Advantage Reported From Pivotal Trial of VELCADE(R) (Bortezomib) for Injection Based Therapy in Patients With Previously Untreated Multiple Myeloma 4Continued Overall Survival Advantage Reported From Pivotal Trial of VELCADE(R) (Bortezomib) for Injection Based Therapy in Patients With Previously Untreated Multiple Myeloma 5Continued Overall Survival Advantage Reported From Pivotal Trial of VELCADE(R) (Bortezomib) for Injection Based Therapy in Patients With Previously Untreated Multiple Myeloma 6
(Date:12/26/2014)... 2014 Parker & Sons, Inc. ... in heating, cooling and plumbing contractor services throughout ... services in 2014 with regard to air-conditioning systems. ... is known for its incredibly hot summers. Working ... intricacies and details of a wide variety of ...
(Date:12/25/2014)... 2014 The click strand ... strength and durability. Today, the business announces a ... valid until Jan. 30, 2015. , Click strand ... hardwood. BambooFlooringChina.com is a well-known brand in the ... to find a reliable bamboo flooring supplier. , ...
(Date:12/25/2014)... 2014 Product liability lawsuits filed in ... ( http://www.consumerinjurylawyers.com/DePuy/ ) continue to move forward in federal ... issued in the U.S. District Court, Northern District of ... open conference on January 7, 2015, at the Paul ... West Palm Beach, Florida. The Conference is scheduled to ...
(Date:12/25/2014)... Recently, Dylan Queen, a famous online company supplying ... of discounted prom dresses, most of which are priced ... the company, the promotion is valid until Jan. 22, ... the UK market. , The prom dresses in this ... styles: A-line strapless, empire strapless chiffon, one shoulder, floor-length, ...
(Date:12/25/2014)... sells many bamboo products and the business is famous ... announces big discounts on its bamboo mats , which ... the world’s leader in bamboo flooring. According to the ... 2015. , The bamboo mats are made from well-treated ... the bamboo strips for the mats are boiled and ...
Breaking Medicine News(10 mins):Health News:Parker & Sons Announces Record Demand For 24 Hour Emergency Services In 2014 With Regard To Air-Conditioning Systems 2Health News:Parker & Sons Announces Record Demand For 24 Hour Emergency Services In 2014 With Regard To Air-Conditioning Systems 3Health News:BambooFlooringChina.com: click strand woven bamboo flooring promotion valid until Jan. 30, 2015. 2Health News:Federal Court Overseeing DePuy ASR Hip Lawsuit Set to Convene Conference in January, Bernstein Liebhard LLP Reports 2Health News:Federal Court Overseeing DePuy ASR Hip Lawsuit Set to Convene Conference in January, Bernstein Liebhard LLP Reports 3Health News:Dylan Queen: Cheap Prom Dresses for the UK Market 2Health News:Various Styles of Bamboo Mats in Many Colors from BambooFlooringChina.com 2
... June 2011 The Reed Elsevier Environmental Challenge aims ... and sustainable water supply for communities where it is ... $50,000 first prize, announced today, is Tagore-SenGupta Foundation. Their ... in remote villages and schools in Cambodia where arsenic ...
... highlights that while the risk of post-traumatic stress disorder (PTSD) ... migraine irrespective of sex, the risk is greater in male ... Headache: The Journal of Head and Face Pain , ... In this paper, lead author B. Lee Peterlin ...
... range of new "apps" and other technologies harnessing health ... demonstrated at the Health Data Initiative Forum, hosted by ... and Human Services, on Thursday, June 9. IT ... gather at the event hosted by the Institute of ...
... bona fide media presenting official press credentials , Media ... & IT support, English, Swedish, Spanish, German, and French ... is English] News briefings will be held:, ... CEST Monday 4 July (English), 14.00 hrs CEST Monday ...
... to suffer surgical site infections (SSIs) if the operating theatre ... of BJS, the British Journal of Surgery . ... surgery, exploring demographic parameters, the duration of the operation and ... per cent) developed SSIs and the only variable was the ...
... Asian non-small cell lung cancer (NSCLC) patients survive longer than ... first-line setting, and the effect was apparent both before and ... according to research published in the June issue of the ... Asian patients with a common type of lung cancer, the ...
Cached Medicine News:Health News:Reed Elsevier Environmental Challenge winners announced 2Health News:Sex matters -- more men with migraine suffer from PTSD than women 2Health News:Sex matters -- more men with migraine suffer from PTSD than women 3Health News:Health data forum features dynamic apps, experts on June 9 2Health News:European Society of Human Reproduction and Embryology Annual Meeting July 3-6, 2011, Stockholm 2Health News:European Society of Human Reproduction and Embryology Annual Meeting July 3-6, 2011, Stockholm 3Health News:Noisy operations associated with increased infections after surgery 2Health News:Asian lung cancer patient survival exceeds Caucasians' on multiple regimens 2
... ARUP Laboratories is a national reference ... laboratory research and development. ARUP offers an ... unique medical tests in clinical and anatomic ... ARUP Laboratories' clients include more than half ...
... reference laboratory and a worldwide leader in ... an extensive test menu of highly complex ... anatomic pathology. Owned by the University of ... half of the nation's university teaching hospitals ...
... is a national reference laboratory and a ... development. ARUP offers an extensive test menu ... in clinical and anatomic pathology. Owned by ... include more than half of the nation's ...
... national reference laboratory and a worldwide leader ... offers an extensive test menu of highly ... and anatomic pathology. Owned by the University ... than half of the nation's university teaching ...
Medicine Products: