WASHINGTON (dpa-AFX) - Perrigo Company plc (PRGO) has reached a definitive agreement to sell its Generic Rx Pharmaceuticals business to Altaris Capital Partners, LLC for $1.55 billion, including $1.5 billion in cash. Altaris will also assume more than $50 million in potential R&D milestone payments and contingent purchase obligations with third-party Rx partners.
Perrigo CEO Murray Kessler said, 'The sale of our Generic Rx business is the most impactful step in Perrigo's transformation plan. This transaction establishes Perrigo as a pure-play global consumer self-care company with industry leading fundamentals.'
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