DUBLIN, May 2, 2022
/PRNewswire/ -- Perrigo Company plc (NYSE: PRGO), a leading
provider of Consumer Self-Care Products, today
announced that on April 29, 2022 it
completed the previously announced acquisition of Héra SAS ("HRA")
for €1.8 billion, or approximately $1.9
billion based on current exchange rates, in cash,
accelerating its position as a leading global consumer self-care
company.
Perrigo President and CEO, Murray S.
Kessler commented, "We are excited to close this acquisition
and welcome the talented HRA team to the Perrigo family. 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."
About Perrigo
Perrigo Company plc (NYSE: PRGO) is a leading provider of
Consumer Self-Care Products and over-the-counter (OTC)
health and wellness solutions that enhance individual well-being by
empowering consumers to proactively prevent or treat conditions
that can be self-managed. Led by its consumer self-care strategy,
Perrigo is the largest store brand OTC player in the U.S. in the
categories in which it competes through more than 9,000 SKUs under
customer 'own brand' labels. Additionally, Perrigo is a Top 10 OTC
company by revenue in Europe,
where it markets more than 200 branded OTC products throughout 28
countries. Visit Perrigo online at www.perrigo.com.
Forward-Looking Statements
Certain statements in this press release are "forward-looking
statements." These statements relate to future events or the
Company's future financial performance and involve known and
unknown risks, uncertainties and other factors that may cause the
actual results, levels of activity, performance or achievements of
the Company or its industry to be materially different from those
expressed or implied by any forward-looking statements. In some
cases, forward-looking statements can be identified by terminology
such as "may," "will," "could," "would," "should," "expect,"
"forecast," "plan," "anticipate," "intend," "believe," "estimate,"
"predict," "potential" or the negative of those terms or other
comparable terminology. The Company has based these forward-looking
statements on its current expectations, assumptions, estimates and
projections. While the Company believes these expectations,
assumptions, estimates and projections are reasonable, such
forward-looking statements are only predictions and involve known
and unknown risks and uncertainties, many of which are beyond the
Company's control, including: the effect of the coronavirus
(COVID-19) pandemic and its variants and the associated supply
chain impacts on the Company's business; general economic, credit,
and market conditions; the impact of the war in Ukraine, including the effects of economic and
political sanctions imposed by the United
States, European Union, and other countries related thereto,
and/or the outbreak or escalation of conflict in other regions
where we do business; future impairment charges; customer
acceptance of new products; competition from other industry
participants, some of whom have greater marketing resources or
larger market shares in certain product categories than the Company
does; pricing pressures from customers and consumers; resolution of
uncertain tax positions, including the Company's appeal of the
draft and final Notices of Proposed Assessment ("NOPAs") issued by
the U.S. Internal Revenue Service and the impact that an adverse
result in any such proceedings would have on operating results,
cash flows, and liquidity; pending and potential third-party claims
and litigation, including litigation relating to the Company's
restatement of previously-filed financial information and
litigation relating to uncertain tax positions, including the
NOPAs; potential impacts of ongoing or future government
investigations and regulatory initiatives; potential costs and
reputational impact of product recalls or sales halts; the impact
of tax reform legislation and healthcare policy; the timing, amount
and cost of any share repurchases; fluctuations in currency
exchange rates and interest rates; the Company's ability to achieve
the benefits expected from the sale of its Rx business and the risk
that potential costs or liabilities incurred or retained in
connection with that transaction may exceed the Company's estimates
or adversely affect the Company's business or operations; the
ability to achieve the benefits expected from the acquisition of
HRA Pharma and the risks that the Company's synergy estimates are
inaccurate or that the Company faces higher than anticipated
integration or other costs in connection with the acquisition; the
consummation and success of other announced and unannounced
acquisitions or dispositions, and the Company's ability to realize
the desired benefits thereof; and the Company's ability to execute
and achieve the desired benefits of announced cost-reduction
efforts and strategic and other initiatives. An adverse result with
respect to the Company's appeal of any material outstanding tax
assessments or pending litigation, including securities or drug
pricing matters, could ultimately require the use of corporate
assets to pay such assessments, damages from third-party claims,
and related interest and/or penalties, and any such use of
corporate assets would limit the assets available for other
corporate purposes. These and other important factors,
including those discussed under "Risk Factors" in the Company's
Form 10-K for the year ended December 31,
2021, as well as the Company's subsequent filings with the
United States Securities and Exchange Commission, may cause actual
results, performance or achievements to differ materially from
those expressed or implied by these forward-looking statements. The
forward-looking statements in this press release are made only as
of the date hereof, and unless otherwise required by applicable
securities laws, the Company disclaims any intention or obligation
to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
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SOURCE Perrigo Company plc