Perrigo to acquire Fera's ophthalmic portfolio for up to $129 million

Payment includes $93 million upfront, $36 million in milestones

ALLEGAN, Mich. — Perrigo Co. will pay up to $129 million to buy Fera Pharmaceuticals' portfolio of ophthalmic products, Perrigo said Monday.

Perrigo said the acquisition from Locust Valley, N.Y.-based Fera included an upfront payment of $93 million and milestone payments of about $36 million. The products include generic ophthalmic sterile ointments and solutions and generated sales of more than $30 million in 2012.

"I'm excited to announce the addition of Fera's ophthalmic ointment and solution products to Perrigo's Rx portfolio," Perrigo chairman, president and CEO Joseph Papa said. "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."

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