Perrigo To Acquire HRA Pharma for $2.1 Bn

By Miranda Greenberg -

September 9, 2021

Perrigo has agreed to acquire Héra SAS (HRA Pharma), a Paris-based over-the-counter (OTC) consumer self-care company, for EUR 1.8 billion ($2.1 billion) from funds affiliated with the private equity firm, Astorg, and Goldman Sachs Asset Management.

The pending acquisition is part of Perrigo’s strategy to focus on consumer healthcare after divesting its generics business earlier this year (2021). In March (March 2021), Perrigo agreed to sell its generic prescription pharmaceuticals business to Altaris Capital Partners, an investment firm, for $1.55 billion. Perrigo first announced plans in 2018 to separate its prescription pharmaceuticals business, which consisted primarily of generic drugs, to focus on its OTC business.

HRA’s key OTC products are in blister care, women's health, and scar care. In addition to OTC products, approximately 15% of HRA's net sales are derived from a rare disease portfolio of three prescription products.

Perrigo expects to realize EUR 30 million ($35 million) in operational synergies annually by 2023. The deal is expected to close by the end of the first half of 2022, subject to the satisfaction of customary closing conditions, including regulatory approvals

Source: Perrigo