Perrigo Company plc ("Perrigo") (NYSE: PRGO; TASE) announced today that it has completed the previously announced acquisition of a portfolio of generic dosage forms and strengths of Retin-A® (tretinoin) from Matawan Pharmaceuticals, LLC. Perrigo was the authorized generic distributor of these products from 2005 to 2013 before the agreement was terminated. Generic and brand sales of Retin-A®, which is indicated for the topical treatment of acne vulgaris, were approximately $290 million for the 12 months ending November 2015.The transaction is expected to immediately exceed Perrigo's ROIC threshold and add more than $0.20 in adjusted EPS within the first 12 months post-close after the exclusion of estimates for intangible amortization, transaction costs and integration related expenses.
Perrigo Chairman and CEO Joseph C. Papa commented, "We are excited to complete this transaction; bringing a high barrier-to-entry, margin-enhancing product and greater reach to the extended topicals portfolio. This acquisition further strengthens Perrigo's strategic position as we continue our mission of providing Quality Affordable Healthcare Products® to consumers around the world."
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