Perrigo to raise €800m for takeover

Leading generic drugs producer, Perrigo is set to raise approximately $1bn (€800m) — via a share placing — to mainly cover the cost of its proposed takeover of Belgian firm, Omega Pharma Invest NV.

Perrigo to raise €800m for takeover

Perrigo is ranked as the number one maker of generic over-the-counter drugs in the US and, last year, moved its corporate headquarters to Dublin following its $9.5bn purchase of Irish biotechnology firm, Elan.

It emerged earlier this month, that Perrigo has reached agreement to buy Omega for €3.6bn, including debt (the price includes the assumption of €1.1bn of debt), a deal which will significantly boost its foothold in the European healthcare market, and place it among the top-five largest over-the-counter treatment providers in the world.

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