Perrigo has announced the sale of its Generic Rx Pharmaceuticals business for $1.55 billion. The division will be sold to Altaris Capital Partners, LLC. The pharmaceuticals division focuses on gels, nasal sprays and topical creams and has over 200 products and 800 SKUs in total, according to the company. In a press release, Perrigo CEO and President Murray S. Kessler said, “The sale of our Generic Rx business is the most impactful step in Perrigo's transformation plan.
This transaction establishes Perrigo as a pure-play global consumer self-care company with industry leading fundamentals.” He added, "Altaris is an ideal owner to maximize the future potential of the Rx business, which has made important contributions to Perrigo and to the health of patients.” Altaris Capital Partners, LLC is an investment firm which focuses only on the healthcare industry and it manages $5.2 billion in equity capital, according to its website.