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Sept. 8, 2021, 6:54 a.m. EDT

Perrigo to acquire consumer self-care company HRA Pharma for about $2.1 billion in cash

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By Ciara Linnane

Perrigo Co. Plc /zigman2/quotes/201110862/composite PRGO -0.79% said Wednesday it has signed a binding offer to acquire Héra SAS, or HRA, a global self-care company, from funds affiliated with private-equity firm Astorg and Goldman Sachs Asset Management for about $2.1 billion in cash. HRA is an over-the-counter products company with with three self-care brands in blister care with Compeed, in women's health with ellaOne and in scar care with Mederma. The deal is expected to "complete Perrigo's transformation to a global leader in consumer self-care, bolster its presence in high-potential European markets and meaningfully improve its already strong operational and financial profile," the company said in a statement. Dublin-based Perrigo is expecting the deal to boost adjusted per-share earnings by about $1 in full-year 2023 and to add 400 million euros ($472.6 million) in sales. About 15% of HRA's sales are derived from a rare disease portfolio of three leading prescription products, said the statement. The deal is expected to close by the end of the first half of 2022. Perrigo shares were not yet active premarket, but have fallen 7% in the year to date, while the S&p 500 /zigman2/quotes/210599714/realtime SPX +1.32% has gained 20.3%.

/zigman2/quotes/201110862/composite
US : U.S.: NYSE
$ 37.48
-0.30 -0.79%
Volume: 1.31M
Nov. 29, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
2.56%
Market Cap
$5.05 billion
Rev. per Employee
$440,261
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/zigman2/quotes/210599714/realtime
US : S&P US
4,655.27
+60.65 +1.32%
Volume: 2.50B
Nov. 29, 2021 4:57p
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