Rx portfolio review sees Perrigo separate prescription pharmaceuticals business

Perrigo has decided to separate its prescription pharmaceuticals business following a review of the Rx portfolio which includes inhalers, gels, creams, liquids, foams and mousses. The separation should be complete by the end of 2019.
A Perrigo representative said: “The Board believes a separation of the Rx business will better enable this unique asset to capitalize on its platform of differentiated generic pharmaceutical products and allows Perrigo to focus on expanding its leading consumer business. The Board will consider all value-enhancing options, including a possible tax-efficient separation to shareholders, a sale or merger.”
Rolf Classon, chairman of the Board, said: “Perrigo’s consumer and Rx platforms are both well positioned, but they are also navigating divergent industry dynamics with unique strategic, financial and operational opportunities and requirements. For these reasons, the Board believes the differentiated and diversified Rx business has the potential to realise greater value outside of Perrigo. After a rigorous analysis of the Rx business, we believe that fully pursuing this separation is in the best interest of Perrigo shareholders.”