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Monday, February 11, 2013

Perrigo buys UK's Rosemont Pharma for $283 mln, (NASDAQ: PRGO)

Perrigo Co, a maker of generic and over-the-counter drugs, said it bought UK-based Rosemont Pharmaceuticals Ltd for about $283 million in cash to gain access to Rosemont's oral liquid formulations business.The deal is expected to add 8 cents to Perrigo's adjusted earnings per share for the remainder of fiscal 2013, Perrigo said in a statement.Perrigo had earlier forecast adjusted earnings of $5.45 to $5.65 per share.Rosemont manufactures and supplies over 150 liquid medicines for joint disease, infections and gastrointestinal disorders.

Perrigo Company is a global healthcare supplier that develops, manufactures and distributes over-the-counter (OTC) and generic prescription (Rx) pharmaceuticals, infant formulas, nutritional products and active pharmaceutical ingredients (API). Shares of PRGO traded higher by 1.79% or $1.94/share to $110.24. In the past year, the shares have traded as low as $93.13 and as high as $120.78. On average, 792416 shares of PRGO exchange hands on a given day and today's volume is recorded at 143615.