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ALLEGAN, Mich. — Perrigo Co. has purchased the ophthalmic sterile ointment and solution product portfolio of Fera Pharmaceuticals LLC for $93 million.
Perrigo said Monday that the portfolio acquired from Fera, a Long Island, N.Y.-based specialty drug company, includes nine prescription ANDA products, which generated over $30 million in revenue during 2012.
"I’m excited to announce the addition of Fera’s ophthalmic ointment and solution products to Perrigo’s Rx portfolio," Perrigo chairman and chief executive officer Joseph Papa stated. "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 Rx extended topical space. 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."
Terms of the transaction include an upfront cash payment of $93 million, along with potential contingent payments totaling about $36 million, some of which relate to Perrigo securing additional product rights from Fera, according to Perrigo.
