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Slide #89. Perrigo Company — Ophthalmic Product Portfolio From Fera Pharmaceuticals, LLC
Perrigo Company (NYSE:PRGO)
Ophthalmic Product Portfolio From Fera Pharmaceuticals, LLC
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.
Perrigo is a provider of over-the-counter health and wellness solutions that can be self-managed. Co.'s segments are as follows: Consumer Self-Care Americas, which is focused primarily on the sale of self-care products in categories including upper respiratory, pain and sleep-aids, digestive health, nutrition, vitamins, minerals and supplements; Consumer Self-Care International, which develops, manufactures, markets, and distributes European consumer self-care brands in the upper respiratory, pain and sleep-aids, digestive health, vitamins, minerals and supplements; and Prescription Pharmaceuticals, which develops, manufactures, and markets a portfolio of generic prescription drugs.
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Strong Buy (3.80 out of 4)