Rosemont Pharmaceuticals takeover boosts Perrigo’s performance

Rosemont Pharmaceuticals' new parent company Perrigo has reported strong financial results for the business year ending on June 29th 2013.

The group's net sales for the 12 months came to a record $3.5 billion (2.23 billion pounds), up by 12 percent year on year, with the recent takeover of Rosemont highlighted as a key contributing factor.

Perrigo purchased the UK-based pharmaceutical company in February 2013 as part of a wider acquisition programme that has also seen the firm buy out Velcera and Fera Pharmaceuticals in recent months.

It also announced a definitive agreement to acquire Elan Corporation at the end of July 2013, a move that will generate further momentum for Perrigo during the coming business year.

Perrigo's chairman and chief executive officer Joseph Papa said: "This was a strong quarter where we continued to successfully drive growth across our segments, while managing costs to generate record bottom-line performance."