08.09.18
Perrigo Company plc is separating its Prescription Pharmaceuticals (Rx) business following the company's strategic portfolio review. According to the company, a separation of the Rx business will better enable this asset to capitalize on its platform of differentiated generic pharmaceutical products and allows Perrigo to focus on expanding its consumer business. The company is considering all options, including a possible separation to shareholders, a sale or merger.
The Rx business provides 'extended topicals' medications to treat ailments at more affordable prices. The portfolio includes topical generic medicines in multiple dosage forms, including creams, foams, mousses, gels, liquids and inhalable products.
Chief executive officer, Uwe Roehrhoff said, "Today's announcement to separate the Rx business enables management to focus on expanding our leading consumer businesses while unlocking potential value for shareholders. Committing our energy and capital to the healthcare needs of consumers and our retail and pharmacy partners better positions Perrigo to drive long-term growth. We look forward to providing a comprehensive update on our consumer businesses on a conference call scheduled for September 25, 2018."
The separation is expected to be completed during 1H19, which may include a tax-efficient separation to shareholders, a sale or merger.
The Rx business provides 'extended topicals' medications to treat ailments at more affordable prices. The portfolio includes topical generic medicines in multiple dosage forms, including creams, foams, mousses, gels, liquids and inhalable products.
Chief executive officer, Uwe Roehrhoff said, "Today's announcement to separate the Rx business enables management to focus on expanding our leading consumer businesses while unlocking potential value for shareholders. Committing our energy and capital to the healthcare needs of consumers and our retail and pharmacy partners better positions Perrigo to drive long-term growth. We look forward to providing a comprehensive update on our consumer businesses on a conference call scheduled for September 25, 2018."
The separation is expected to be completed during 1H19, which may include a tax-efficient separation to shareholders, a sale or merger.
