Perrigo Completes Divestment of HRA Pharma Rare Diseases Business

Core Viewpoint - Perrigo Company plc has completed the divestment of its HRA Pharma Rare Diseases business to Esteve Healthcare for a total consideration of up to €275 million, which includes an upfront cash payment of €190 million and potential earnout payments of up to €85 million based on sales milestones [1] Financial Impact - The HRA Pharma Rare Diseases business generated net sales of approximately €50 million and adjusted EBITDA of approximately €20 million in 2023 [1] - The proceeds from the divestment are expected to be redeployed for debt repayment [1] Transaction Details - The total consideration for the divestment is structured as an upfront cash payment of €190 million, subject to customary net debt and working capital adjustments, and up to €85 million in potential earnout payments [1] - The impact of this transaction was included in the Company's previously issued 2024 outlook [1]