Perrigo (PRGO) Announces Completion of Generic Retin-A Portfolio Acquisition
Get Alerts PRGO Hot Sheet
EPS Growth %: -48.9%
Financial Fact:
Net sales: 933.4M
Today's EPS Names:
UXIN, TOWN, NRIM, More
Join SI Premium – FREE
Perrigo Company plc (NYSE: PRGO) announced that it has completed the previously announced acquisition of a portfolio of generic dosage forms and strengths of Retin-A (tretinoin) from Matawan Pharmaceuticals, LLC. Perrigo was the authorized generic distributor of these products from 2005 to 2013 before the agreement was terminated. Generic and brand sales of Retin-A®, which is indicated for the topical treatment of acne vulgaris, were approximately $290 million for the 12 months ending November 2015.The transaction is expected to immediately exceed Perrigo's ROIC threshold and add more than $0.20 in adjusted EPS within the first 12 months post-close after the exclusion of estimates for intangible amortization, transaction costs and integration related expenses.
Perrigo Chairman and CEO Joseph C. Papa commented, "We are excited to complete this transaction; bringing a high barrier-to-entry, margin-enhancing product and greater reach to the extended topicals portfolio. This acquisition further strengthens Perrigo's strategic position as we continue our mission of providing Quality Affordable Healthcare Products® to consumers around the world."
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- IBM tumbles on soft Q1 revenue; announces HashiCorp $6.4bn acquisition
- TrueBlue's (TBI) PeopleScout Announces Appointments to its Executive Team
- Hempacco Co (HPCO) Receives Nasdaq Non-compliance Notice
Create E-mail Alert Related Categories
Corporate News, Guidance, Management Comments, Mergers and AcquisitionsRelated Entities
Definitive AgreementSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!