Perrigo furthers its consumer-focused transformation by divesting U.K. generic prescription biz

DUBLIN —Perrigo Co. has reached a definitive agreement to sell its U.K.-based Rosemont Pharmaceuticals business, a generic prescription pharmaceuticals manufacturer focused on liquid medicines, to a U.K.-headquartered private equity firm for £156 million or approximately $195 million in cash. This transaction, which was signed and closed on the same day, represents another step in Perrigo’s transformation to a consumer-focused self-care company.

Perrigo CEO and president Murray Kessler commented, “We are pleased to have reached an agreement to divest Perrigo’s non-core Rosemont business and look forward to ensuring a seamless transition. This divestiture, which was accomplished at an attractive ten times adjusted operating income multiple, is an example of Perrigo’s commitment to our transformation to a consumer-focused self-care company while remaining good stewards of shareholder value. We thank the Rosemont employees for their service to Perrigo and are confident the business will do well under new ownership.”

In calendar year 2019, Perrigo realized $53 million in net sales and $0.12 of adjusted diluted EPS from the Rosemont business, which was previously included in the Consumer Self-Care International segment.