Rosemont Deal Shows Value Is Out There For US Exit, Perrigo Says
Planned Separation ‘Will Take Some Time’
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.
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After a high-profile launch early this year, first-mover Perrigo has recalled its albuterol sulfate aerosol in the US following complaints of inhalers failing to dispense due to “clogging.” The firm has revealed the expected financial impact of the move as well as commenting on how long it expects the product to be off the market, during which albuterol rivals Cipla and Lupin could benefit.
In an eventful year for the off-patent industry, the world’s leading generics and biosimilars players have switched places in Generics Bulletin’s newly-compiled global sales ranking.
Perrigo has expanded its agreement with Sol-Gel Technologies to cover ten products, shortly after warning that plans to separate the firm’s Prescription Pharmaceuticals US generics unit “in the short term” would likely “destroy shareholder value.”