Perrigo Buys Rosemont Pharma for $283M
Perrigo Company (Nasdaq: 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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