Perrigo acquires UK drugmaker Rosemont for £180 million

USA-based Perrigo (Nasdaq: PRGO) has signed a definitive merger agreement and has completed the acquisition of Leeds, UK-based Rosemont Pharmaceuticals from private equity firm CBPE Capital for around £180 million (about $283 million) in cash. CBPE bought the business from the USA’ Savient Pharmaceuticals in 2006.

Founded in 1967, Rosemont is a specialty and generic prescription pharmaceutical company focused on the manufacturing and marketing of oral liquid formulations. Rosemont's current 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. Rosemont's net sales during calendar year 2012 were around £40 million or more than $60 million with gross and operating margins similar to those of Perrigo's prescription pharmaceuticals segment, where Rosemont's results of operations will be included.

Enhances international presence of US firm