Perrigo premises raided in price-fixing probe

4 May 2017

Generic drugmaker Perrigo (NYSE: PRGO) lost 5% in its stock-market value on Wednesday, closing at $72.35, amid news of a raid on its corporate offices in relation to the US Department of Justice Antitrust Division investigation into price fixing.

The company confirmed that the search warrants were executed as part of the probe into industry-wide pricing practices and promised that it was ‘taking the investigation seriously and cooperating with the appropriate authorities’ in a statement.

Perrigo, which is run from Allegan in the US state of Michigan but is legally headquartered in Dublin, Ireland, did not specify which of its sites were searched.

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