Wendy future of retail top

Perrigo to buy women’s health assets from Lumara

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DUBLIN, Ireland — Perrigo Co. plc plans to acquire the women’s health care business of Lumara Health Inc.

Perrigo said Tuesday that the $82 million cash deal expands its specialty drug portfolio to include extended topical products in the women’s health.

Lumara assets in the agreement include Clindesse Vaginal Cream (clindamycin phosphate 2%), Gynazole-1 (Butoconazole Nitrate Vaginal Cream 2%) and Evamist (estradiol transdermal spray). Perrigo said the portfolio being acquired generated more than $15 million in revenue for the 12 months ended March 31.

"I’m excited to announce the addition of these women’s health care products to Perrigo’s Specialty Rx portfolio. Perrigo is uniquely positioned to realize potential manufacturing synergies given the fact that we currently manufacture two of the three products included in this portfolio for Lumara," stated Perrigo chairman, president and chief executive officer Joseph Papa.

"The team intends to increase promotional efforts of these three products, which achieved peak sales of approximately $78 million before two of these products were removed from the market due to production issues," Papa added. "These prescription products have high barriers to entry and are of strategic interest to Perrigo as we continue to pursue opportunities that strengthen our leadership position within the niche Rx extended topical space."

The deal with Perrigo is one of two transactions in the sale of St. Louis-based Lumara. AMAG Pharmaceuticals Inc., Waltham, Mass., has agreed to acquire the core maternal health business of Lumara for $675 million, with an additional contingent consideration of up to $350 million based on certain sales milestones.

 


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