Perrigo sells generic unit, and will now focus on consumer self-care

Dublin, Ireland-incorporated Perrigo Company (NYSE: PRGO) today announced that it has reached a definitive agreement to sell its UK-based Rosemont Pharmaceuticals business, a generic prescription pharmaceuticals manufacturer focused on liquid medicines, to an unnamed UK-headquartered private equity firm for £156 million ($195 million) in cash.

This transaction, which was signed and closed on the same day, represents another step in Perrigo's transformation to a consumer-focused self-care company.

Perrigo acquired Rosemont from CBPE Capital in 2013 for about £189 million (around $283 million at then exchange rates) in cash to gain access to Rosemont’s oral liquid formulations business and enhance its geographic reach.