Perrigo completed an acquisition in the over-the-counter and consumer health care segment.
Dublin-based Perrigo — which is building its North American headquarters in downtown Grand Rapids — said this week it completed the previously announced acquisition of Châtillon, France-based Héra SAS, also known as HRA Pharma, for approximately $1.9 billion in cash based on current exchange rates.
“We are excited to close this acquisition and welcome the talented HRA team to the Perrigo family,” said Perrigo President and CEO Murray Kessler.
“Completing this transaction marks the culmination of our three-year transformation plan that has returned Perrigo to its self-care roots. The addition of HRA advances Perrigo’s vision of making lives better with quality, affordable self-care products that consumers trust everywhere they are sold.
“It also accelerates our sales and earnings growth and is expected to enhance our margins. Our global businesses are now more intertwined and unified than ever before as we focus on expanding our geographic reach, driving category penetration and delivering new product innovation that leverages our consumer-centric mindset.”
Founded in 1996, HRA Pharma develops over-the-counter and consumer health care products. Historically centered on women’s health, the company bills itself as a European leader in emergency contraception and compromised skin and has “innovative Rx-to-OTC switches” in the pipeline.
HRA Pharma has a direct operational presence in 11 European countries and partnerships that have extended its products’ availability to over 71 countries worldwide.