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Rosemont Deal Shows Value Is Out There For US Exit, Perrigo Says

Planned Separation ‘Will Take Some Time’

 
• By Dean Rudge

Perrigo management provided colorful commentary on Perrigo’s latest endeavors to separate the company’s US generics business, following the recent sale of Perrigo’s Rosemont Pharmaceuticals subsidiary for an “attractive” multiple.

Value
Perrigo will keep hold of its Rx business until a suitable multiple can be found for its sale • Source: Shutterstock

Perrigo Company PLC says the recent sale of its UK-based Rosemont Pharmaceuticals liquid generics business “proves” that attractive multiples are still out there in the generics space but it “will take some time” yet to complete the planned separation of its US Prescription Pharmaceuticals business, given the continued poor value Perrigo sees.

There had been “no change” in Perrigo’s progress, president and CEO Murray Kessler told investors during the company’s second-quarter earnings call, as he reflected on Perrigo’s overarching strategy to complete a transaction for its Prescription

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