Perrigo Moves Closer To Exclusive Consumer Focus With UK Rx Generics Business Sale
Perrigo’s ambitions to become a consumer-focused company are a step closer after the firm announced an immediate sale of a ‘non-core’ asset.
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A diclofenac topical analgesic is first, likely followed by a line extension for its Prevacid 24HR PPI brand. Perrigo also plans to introduce natural-based products that “leverage our expertise in Europe."
Perrigo leads major consumer health companies into the CBD space with its $50m investment in Kazmira LLC, a Colorado business. The firm says the companies will lay groundwork for quality standards in the CBD market.
Perrigo has been looking to separate its Prescription US generics business for almost two years but has ruled out an immediate or rushed transaction in existing market conditions. Meanwhile, management took the time to assess the financial rewards and ramifications of Perrigo’s recently-launched generic ProAir product, with demand “substantially higher than anticipated” in the wake of COVID-19.