Perrigo (Nasdaq: PRGO) has signed a merger agreement and completed the acquisition of Leeds, U.K.-based Rosemont Pharmaceuticals Ltd. for approximately £180 million or $283 million in cash.

Founded in 1967, Rosemont is a specialty and generic prescription pharmaceutical company focused on the manufacture and marketing of oral liquid formulations. 

Rosemont's net sales during calendar year 2012 were approximately £40 million or more than $60 million, with gross and operating margins similar to those of Perrigo's prescription pharmaceuticals. Rosemont employs more than 200 people.

Rosemont is in a specialty market attractive to Allegan-based Perrigo. Rosemont’s portfolio of liquid medications addresses a critical medicinal need in pediatrics, as well as for patients with dysphagia, or swallowing difficulties, a common malady in a growing elderly population.

The transaction is aligned with Perrigo’s strategy to expand into additional liquid drug categories as soon as possible, as well as diversified prescription medicines, to further broaden its product portfolio.

“We continue to focus on expanding our international footprint and view the acquisition of Rosemont as an opportunistic next step given our existing presence in the U.K.,” said Perrigo CEO and Chairman Joseph C. Papa.

He added that Rosemont holds the lead in the niche specialty oral liquid drugs market in the U.K., similar to Perrigo’s lead position in the niche extended topical generic prescription market in the U.S.

Rosemont’s portfolio consists of more than 90 products and is well positioned for future growth given its diverse product pipeline, relevant favorable demographics and export opportunities, according to Perrigo.

Rosemont is expected to add 8 cents to Perrigo’s adjusted earnings per share for the remainder of fiscal 2013 and dilute GAAP EPS by approximately 4 to 7 cents after integration-related expenses.

Perrigo now expects fiscal 2013 reported earnings to be between $4.67 and $4.87 per diluted share, compared to $4.18 in fiscal 2012. 

Fiscal 2013 adjusted earnings are expected to be between $5.53 and $5.73 per diluted share, compared to $4.99 in fiscal 2012.