Perrigo was the authorized generic distributor of these products from 2005 to 2013 before the agreement was terminated. Generic and brand sales of Retin-A, which is indicated for the topical treatment of acne vulgaris, were approximately $290m for the 12 months ending November 2015.
The transaction is expected to immediately exceed Perrigo’s ROIC threshold and add more than $0.20 in adjusted EPS within the first 12 months post-close after the exclusion of estimates for intangible amortization, transaction costs and integration related expenses.
Perrigo chairman and CEO Joseph Papa said: "We are excited to complete this transaction; bringing a high barrier-to-entry, margin-enhancing product and greater reach to the extended topicals portfolio.
"This acquisition further strengthens Perrigo’s strategic position as we continue our mission of providing Quality Affordable Healthcare Products to consumers around the world."