Perrigo buys ophthalmic portfolio of Fera Pharmaceuticals

Allegan, MI-Perrigo Co. has acquired the ophthalmic portfolio of Fera Pharmaceuticals, a Long Island, NY-based specialty pharmaceutical company, for an upfront payment of $93 million.

Perrigo, a provider of health-care products, purchased the ophthalmic sterile ointment and solution product portfolio from Fera, including nine prescription ANDA products. The portfolio generated more than $30 million in net revenues in 2012.

“The ophthalmic category has been one of high strategic interest to Perrigo, as we continue to pursue opportunities that strengthen our leadership position within the niche prescription-extended topical space,” said Joseph C. Papa, chairman, president, and chief executive officer of Perrigo, in a prepared statement. “The breadth of the Fera portfolio allows us to become immediately relevant to patients and physicians across the country seeking cost-effective alternatives for the treatment of common ocular conditions.”

A packager of generic home remedies since 1887, Perrigo develops, manufactures, and distributes over-the-counter (OTC) and generic prescription pharmaceuticals, infant formulas, nutritional products, animal health, dietary supplements, and active pharmaceutical ingredients. The company is the world’s largest manufacturer of OTC pharmaceutical products for the store brand market. Perrigo’s primary markets and locations of operations include the United States, Israel, Mexico, the United Kingdom, India, China, and Australia.

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