Tel Aviv listed Perrigo sells generics division for USD 1.55 Billion to Altaris
Perrigo has reached a definitive agreement to sell its Generic Rx Pharmaceuticals business to Altaris Capital Partners LLC for USD 1.55 billion, including USD 1.5 Billion in cash, it was announced this week.
A longstanding U.S. pharmaceutical manufacturer, Perrigo is listed on the TASE.
Altaris Capital Partners, LLC is an investment firm focused exclusively on the healthcare industry. Altaris is based in New York and actively manages USD 5.2 billion of equity capital.
As part of the consideration, Altaris will also assume more than USD 50 million in potential R&D milestone payments and contingent purchase obligations with third-party Rx partners.
Wachtell, Lipton, Rosen & Katz is legal counsel to Perrigo on the transaction with Fischer (FBC)‘s Raz Tepper, Sharon Klein-Manbar, Merav Grinspan, Moran Friedman, Anat Shavit, Uri Lampert and Ziv Schwartz.
Cleary Gottlieb and Yigal Arnon are providing legal counsel to Altaris in the deal, which is expected to be completed in the third quarter this year.
