Perrigo Secures Binding Offer To Divest Its HRA Pharma Rare Diseases Business For Up To €275M
Portfolio Pulse from Benzinga Newsdesk
Perrigo has received a binding offer to sell its HRA Pharma Rare Diseases business to ESTEVE for up to €275 million, including €190 million upfront and up to €85 million in earnouts. The deal, pending consultation with the HRA Pharma Works Council in France, is expected to close in Q3 2024.
April 25, 2024 | 10:02 am
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Perrigo's divestiture of its HRA Pharma Rare Diseases business to ESTEVE for up to €275 million could provide a significant cash influx, potentially impacting its financial flexibility and strategic focus.
The sale of the HRA Pharma Rare Diseases business represents a strategic move for Perrigo, potentially enhancing its financial position with a substantial upfront cash payment and additional earnouts. This influx of cash could be used for debt reduction, R&D, or other strategic investments, positively influencing investor sentiment and the stock's short-term performance.
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