Key Developments: Perrigo Co (PRGO.N)
120.09USD
19 Jun 2013
$-1.07 (-0.88%)
$121.16
$120.30
$122.02
$120.02
102,853
189,382
$122.02
$98.80
Latest Key Developments (Source: Significant Developments)
Perrigo Co Acquires Ophthalmic Product Portfolio From Fera Pharmaceuticals, LLC
Perrigo Company announced that it has signed a definitive agreement to acquire and has completed the acquisition of an ophthalmic sterile ointment and solution product portfolio from Fera Pharmaceuticals, LLC and its affiliates (Fera), a privately-held, Long Island, New York-based specialty pharmaceutical company. The acquired portfolio, including nine prescription ANDA products, generated more than $30 million in net revenues during calendar year 2012. Terms of the transaction include an upfront cash payment of approximately $93 million along with potential contingent payments totaling approximately $36 million, certain of which relate to Perrigo securing additional product rights from Fera. Additionally, Perrigo expects to receive a tax benefit as a result of the acquisition, the net present value of which is estimated to be approximately $20 million. Full Article
Perrigo Co Begins Trading On NYSE-AP
The Associated Press reported that Perrigo Co. began trading on the New York Stock Exchange after moving from the NASDAQ Global Select Market exchange. The Allegan, Mich.-based company's stock symbol is PRGO. Full Article
Netflix Inc To Replace Perrigo Co In NASDAQ-100 Index Beginning June 6, 2013
Netflix, Inc. announced that it will become a component of the NASDAQ-100 Index, the NASDAQ-100 Equal Weighted Index, and the NASDAQ-100 Ex-Technology Sector Index (NDXX) prior to market open on June 6, 2013. Netflix, Inc. will replace Perrigo Co. Full Article
Perrigo Co Announces FDA Final Approval For Generic Equivalent To Sanctura XR
Perrigo Co announced that it has received final approval for the generic version of Sanctura XR. Perrigo had previously prevailed in litigation at both the district and appellate levels. The product has begun shipping immediately. Full Article
Perrigo Co To Transfer Stock To NYSE From Nasdaq-AP
The Associated Press reported that Perrigo Co is transferring its stock listing to the New York Stock Exchange from the Nasdaq. The Company said it expects to start trading on the NYSE on June 6 under its current stock symbol, PRGO. It will keep trading on the Nasdaq until the transfer takes place. Full Article
Perrigo Co Reaffirms FY 2013 EPS Guidance
Perrigo Co announced that for fiscal 2013, it expects earnings to be between $4.67 and $4.87 per diluted share (EPS) and adjusted EPS to be between $5.53 and $5.73. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report EPS of $5.64 for fiscal 2013. Full Article
Perrigo Co Announces Quarterly Dividend
Perrigo Co announced that Board of Directors declared a quarterly dividend of $0.09 per share, payable on June 18, 2013 to shareholders of record on May 31, 2013. Full Article
Perrigo Co Closes Acquisition Of Velcera, Inc
Perrigo Co announced that it has closed the acquisition of Velcera, Inc., Yardley, Pennsylvania based pet health products company for approximately $160 million in cash. Full Article
Perrigo Co Confirms First To File Patent Challenge For Generic Version Of Testosterone Gel 1.62%
Perrigo Co announced that it has filed with the U.S. Food and Drug Administration (FDA) an Abbreviated New Drug Application for testosterone gel 1.62% and that it has notified AbbVie Inc., the owner of the Reference Listed Drug of its filing. On February 15, 2013, the Unimed Pharmaceuticals subsidiary of AbbVie and Besins Healthcare filed suit against Perrigo in the United States District Court for the District of Delaware, alleging patent infringement. This action formally initiates the process under the Hatch-Waxman Act. Perrigo believes that it is a first filer for this opportunity, entitling it to 180 days of generic exclusivity. Androgel 1.62% (testosterone gel 1.62%) is indicated to treat males who have low or no testosterone. Annual sales were approximately $680 million annually, as measured by Wolters Kluwer Health. Full Article
Perrigo Co Acquires U.K. Based Rosemont Pharmaceuticals Ltd; Raises FY 2013 EPS Guidance
Perrigo Co announced that it has signed a definitive merger agreement and has completed the acquisition of Leeds, U.K.-based Rosemont Pharmaceuticals Ltd. for approximately GBP180 million or $283 million in cash. Including this acquisition, Perrigo now expects fiscal 2013 reported earnings to be between $4.67 and $4.87 per diluted share and fiscal 2013 adjusted earnings to be between $5.53 and $5.73 per diluted share (EPS). According to I/B/E/S Estimates, analysts on an average are expecting the Company to report EPS of $5.58 for fiscal 2013. Full Article
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