Perrigo Company plc (PRGO) has reached a definitive agreement to sell its Generic Rx Pharmaceuticals business to Altaris Capital Partners, LLC for $1.55 billion, including $1.5 billion in cash. Altaris will also assume more than $50 million in potential R&D milestone payments and contingent purchase obligations with third-party Rx partners.

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Perrigo Company plc (PRGO) has reached a definitive agreement to sell its Generic Rx Pharmaceuticals business to Altaris Capital Partners, LLC for $1.55 billion, including $1.5 billion in cash. Altaris will also assume more than $50 million in potential R&D milestone payments and contingent purchase obligations with third-party Rx partners.

RTTNews | Mar 1, 2021 07:18AM EST

07:17 Monday, March 1, 2021 (RTTNews.com) - Perrigo Company plc (PRGO) has reached a definitive agreement to sell its Generic Rx Pharmaceuticals business to Altaris Capital Partners, LLC for $1.55 billion, including $1.5 billion in cash. Altaris will also assume more than $50 million in potential R&D milestone payments and contingent purchase obligations with third-party Rx partners.

Perrigo CEO Murray Kessler said, "The sale of our Generic Rx business is the most impactful step in Perrigo's transformation plan. This transaction establishes Perrigo as a pure-play global consumer self-care company with industry leading fundamentals."

Read the original article on RTTNews ( https://www.rttnews.com/3173765/perrigo-to-sell-its-generic-rx-pharmaceuticals-business-quick-facts.aspx)

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