Pharmaceuticals and self-care products manufacturer Perrigo Company plc is preparing to sell its prescription pharmaceuticals business (Rx) to Altaris Capital Partners for $1.55 billion. The investment firm announced Monday that both companies have entered into an agreement on the transaction.
“I am thrilled that we are working with Altaris to establish Perrigo’s Rx business as an independent company,” Sharon Kochan, the president of the business, said in a release. “This is a very important and exciting milestone that will enable us to focus on executing our ambitious plans and growth strategy. Altaris’ healthcare specialization and experience with similar business separations will bring unique, fresh and relevant perspectives as we embark on the next phase of our journey.”