Perrigo Company plc in the €275 million sale of its HRA Pharma Rare Diseases business

On April 25, 2024, Perrigo Company plc (NYSE: PRGO) announced that pharmaceutical company Esteve Healthcare, S.L. has signed a binding offer to acquire Perrigo’s HRA Pharma Rare Diseases business for total consideration of up to €275 million, consisting of an upfront cash payment of €190 million and up to €85 million in potential earnout payments.  Following the information and consultation process with HRA Pharma Works Council in France, Perrigo would be entitled to exercise the put option granted by Esteve and enter into a definitive agreement for the sale of the Rare Diseases business.

Wachtell, Lipton, Rosen & Katz is serving as legal advisor to Perrigo.