Perrigo Company PRGO today announced that it has signed a definitive merger agreement and has
completed the acquisition of Leeds, U.K.-based Rosemont Pharmaceuticals Ltd.
("Rosemont") for approximately £180 million or $283 million in cash.
Key benefits of the transaction include:
o Attractive Specialty Market: Rosemont's portfolio of liquid formulations
addresses a critical medicinal need within pediatrics, as well as for
those patients with dysphagia (swallowing difficulties), a common malady
in a growing elderly population.
o Immediate Access to Oral Liquid Formulations: The transaction is aligned
with Perrigo's strategic growth objective to expand into additional liquid
categories and diversified prescription medicines to further broaden its
customer product portfolio.
o Leadership Position in Sizeable and Growing Market: Favorable demographic
drivers have been increasing demand for easier to swallow products.
Rosemont's leading position in this market today, combined with its robust
pipeline portfolio and access to under-penetrated international markets,
represents an exciting opportunity for future growth and European
expansion.
o Synergy Opportunity: The acquisition allows Perrigo to expand its U.K.
portfolio while leveraging its established distribution and administrative
infrastructures and long standing customer relationships.
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