Perrigo has completed the acquisition of Rosemont Pharmaceuticals, based in Leeds, UK, for approximately $283 million in cash. Rosemont is a specialty and generic pharmaceutical company focused on the manufacturing and marketing of oral liquid formulations, with a portfolio of more than 90 products. Rosemont's sales were approximately $60 million in 2012.
Perrigo chairman, president and chief executive officer Joseph C. Papa said, "We continue to focus on expanding our international footprint and view the acquisition of Rosemont as an opportunistic next step given our existing presence in the UK. Similar to Perrigo's position in the niche U.S. extended topical generic prescription market, Rosemont is the #1 player in the niche specialty U.K. oral liquid formulations market. We are excited to announce the acquisition of Rosemont and welcome its more than 200 employees to the Perrigo family. This transaction represents another step forward executing our strategy to make quality healthcare products more affordable for consumers around the world."