Perrigo Company Divests Israel Cosmetics Business for 205 Million New Israeli Shekels

Perrigo Company Divests Israel Cosmetics Business for 205 Million New Israeli
Shekels

ALLEGAN, Mich., Nov. 2 /PRNewswire-FirstCall/ -- Perrigo Company (Nasdaq:
PRGO; TASE) today announced that it has signed a definitive agreement to sell
its Israel Consumer Products business along with the related production assets
in Israel to Emilia Group, a subsidiary of O. Feller Holdings Ltd., for 205
million New Israeli Shekels (approximately $54 million). The transaction will
close in the first calendar quarter of 2010. Under the terms of the agreement,
Perrigo will provide distribution and support services for the related U.S.
private label cosmetics business for twelve months after the close of the
transaction.

Commenting on the announcement, Perrigo Chairman and Chief Executive Officer,
Joseph C. Papa, stated, "We are very pleased with the team's ability to find
the right buyer in a timely manner, executing on our previously announced
decision to exit this business. This reflects our on-going process of
optimizing our portfolio based on our stringent ROIC guidelines."

Perrigo Company is a leading global healthcare supplier that develops,
manufactures and distributes OTC and generic prescription pharmaceuticals,
nutritional products, active pharmaceutical ingredients (API) and consumer
products. The Company is the world's largest manufacturer of OTC
pharmaceutical products for the store brand market. The Company's primary
markets and locations of manufacturing and logistics operations are the United
States, Israel, Mexico and the United Kingdom. Visit Perrigo on the Internet
(http://www.perrigo.com).

Note: Certain statements in this press release are forward-looking statements
within the meaning of Section 21E of the Securities Exchange Act of 1934, as
amended, and are subject to the safe harbor created thereby. These statements
relate to future events or the Company's future financial performance and
involve known and unknown risks, uncertainties and other factors that may
cause the actual results, levels of activity, performance or achievements of
the Company or its industry to be materially different from those expressed or
implied by any forward-looking statements. In some cases, forward-looking
statements can be identified by terminology such as "may," "will," "could,"
"would," "should," "expect," "plan," "anticipate," "intend," "believe,"
"estimate," "predict," "potential" or other comparable terminology. The
Company has based these forward-looking statements on its current
expectations, assumptions, estimates and projections. While the Company
believes these expectations, assumptions, estimates and projections are
reasonable, such forward-looking statements are only predictions and involve
known and unknown risks and uncertainties, many of which are beyond the
Company's control. These and other important factors, including those
discussed under "Risk Factors" in the Company's Form 10-K for the year ended
June 27, 2009, as well as the Company's subsequent filings with the Securities
and Exchange Commission, may cause actual results, performance or achievements
to differ materially from those expressed or implied by these forward-looking
statements. The forward-looking statements in this press release are made only
as of the date hereof, and unless otherwise required by applicable securities
laws, the Company disclaims any intention or obligation to update or revise
any forward-looking statements, whether as a result of new information, future
events or otherwise.

SOURCE Perrigo Company

Arthur J. Shannon, Vice President, Investor Relations and Communication,
+1-269-686-1709, ajshannon@perrigo.com, or Daniel B. Willard, Manager,
Investor Relations and Communication, +1-269-686-1597, dbwillard@perrigo.com,
both of Perrigo Company