Perrigo Acquires OTC Products From Aspen; Takes Stake in Transition Therapeutics

Perrigo Company has acquired a basket of value-brand over-the-counter products sold in Australia and New Zealand from Aspen Global Inc. for $51 million in cash. The products are primarily sold through the mass retail channel and include the Herron® range of analgesics, vitamins and supplements. This basket of products is expected to generate at least $20 million in annual revenue

Source: Perrigo

Perrigo Company has entered into a series of agreements with existing collaboration partner, Transition Therapeutics Inc. to progress the clinical development of ELND005 (Scyllo-inositol) in a number of indications including Alzheimer’s disease, bipolar disorder and Down Syndrome. As part of the transaction, Transition Therapeutics will acquire all of the shares of a wholly owned, indirect Irish subsidiary of Perrigo Company plc that has present day responsibilities for carrying out all development activities associated with ELND005. Additionally, affiliates of Perrigo Company plc will make a $15 million investment in return for 2,255,640 common shares of Transition Therapeutics and will be eligible to receive royalties and milestone payments should ELND005 be commercialized. Transition Therapeutics and its subsidiaries will become responsible for all ongoing development activities and costs associated with ELND005.

Source: Perrigo




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