Perrigo buys European drug company for around $ 2 billion


GRAND RAPIDS, Mich. (WOOD) – West Michigan self-care maker Perrigo plans to spend about $ 2.1 billion to buy European company HRA Pharma.

The purchase is expected to be finalized in the first half of next year, assuming it gets approved by regulators.

Based in Paris HRA Pharma manufactures several over-the-counter blister care, women’s health and scar care products, as well as some specialty drugs for rare diseases. Perrigo says its acquisition is expected to “significantly strengthen (its) global footprint.”

“With the addition of HRA and its talented management team, Perrigo would be a global leader in consumer personal care that is poised to deliver leading net sales growth and double-digit growth (earnings per share ) in the short term while simultaneously developing margins, ”Perrigo President and CEO Murray Kessler said in a statement. “… This is literally a unique opportunity to simultaneously improve our financial profile, while creating even greater value for consumers, shareholders and the communities in which we work and live. “

Perrigo says it expects to save $ 30 million in the first year of the acquisition by combining and streamlining its and HRA operations. He added that the purchase of HRA could increase sales by around $ 400 million in fiscal year 2023.

Perrigo, an over-the-counter giant in the United States, currently has its North American headquarters in Allegan, but is working on relocation of HQ to Grand Rapids,

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