Perrigo Completes Divestment of HRA Pharma Rare Diseases Business

By Bobby Samwell • Wednesday, July 10 15:14 • Permanent Link

Perrigo Company PLC has announced the completion of its divestment of the HRA Pharma Rare Diseases business to Esteve Healthcare, S.L. for a total consideration of up to €275 million. This includes an upfront cash payment of €190 million, subject to customary net debt and working capital adjustments, and up to €85 million in potential earnout payments based on the rare diseases business achieving certain sales milestones.

In 2023, the HRA Pharma Rare Diseases business delivered net sales of approximately €50 million and adjusted EBITDA of approximately €20 million. The company expects to redeploy the proceeds from this divestment for debt repayment.

Perrigo Company PLC, a leading provider of consumer self-care products and over-the-counter health and wellness solutions, has stated that the impact from this transaction was included in the company’s previously issued 2024 outlook. Today the company's shares have moved 2.3% to a price of $27.11. If you want to know more, read the company's complete 8-K report here.

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