Sector News

Perrigo To Acquire Leading OTC Brands From GSK In All-cash Deal

June 3, 2015
Life sciences
(RTTNews) – Perrigo Company plc announced it has entered into an agreement to acquire a portfolio of over-the-counter brands from GlaxoSmithKline Consumer Healthcare, in connection with GSK’s commitments to divest these businesses in the context of the formation of a consumer health joint venture between GSK and Novartis.
 
The assets include: GSK’s NiQuitin nicotine replacement therapy business, primarily in the European Economic Area and Brazil, and Novartis’s legacy Australian NRT business, including the Nicotinell brand; Several assorted OTC brands including Coldrex across the EEA, and Panodil, Nezeril, and Nasin in Sweden; and Novartis’s legacy cold sore management products primarily in the EEA, marketed under the brand names Vectavir, Pencivir, Fenivir, Fenlips and Vectatone.
 
Perrigo expects the acquisition to be immediately accretive to its calendar 2015 adjusted earnings per share, excluding estimated intangible amortization and transaction-related costs. The transaction is expected to close in the third quarter of 2015.

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