Perrigo Wary Of ‘Destroying’ Value Through Premature Sale

As Covid-19 ProAir Impact Revealed In First Quarter

 
• By Dean Rudge

Perrigo has been looking to separate its Prescription US generics business for almost two years but has ruled out an immediate or rushed transaction in existing market conditions. Meanwhile, management took the time to assess the financial rewards and ramifications of Perrigo’s recently-launched generic ProAir product, with demand “substantially higher than anticipated” in the wake of COVID-19.

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Perrigo will not hurry into an immediate transaction for its Prescription US generics unit • Source: Shutterstock

Perrigo does not envisage separating the firm’s Prescription Pharmaceuticals US generics unit “in the short term,” as any divorcing of the business in current market conditions, be it a sale, spin-off, merger or other transaction, would likely “destroy shareholder value,” president and CEO Murray Kessler has underlined.

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