Perrigo acquires ophthalmic product portfolio from Fera for $93M

theflyonthewall.com

Perrigo announced that it has signed a definitive agreement to acquire and has completed the acquisition of an ophthalmic sterile ointment and solution product portfolio from Fera Pharmaceuticals and its affiliates. The acquired portfolio, including nine prescription ANDA products, generated more than $30M in net revenues during calendar year 2012. Terms of the transaction include an upfront cash payment of approximately $93M along with potential contingent payments totaling approximately $36M, certain of which relate to Perrigo securing additional product rights from Fera. Additionally, Perrigo expects to receive a tax benefit as a result of the acquisition, the net present value of which is estimated to be approximately $20M. This acquisition is expected to be more than 12c accretive to adjusted EPS for fiscal 2014 and more than 4c accretive to GAAP EPS after the inclusion of estimates for intangible amortization, transaction and integration related expenses.

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