Perrigo Sells Consumer Product Unit

Perrigo Company will sell its Israel consumer products business along with the related production assets in Israel to Emilia Group, a subsidiary of O. Feller Holdings Ltd., for about $54 million. The transaction will close in the first quarter of 2010. Under the terms of the agreement, Perrigo will provide distribution and support services for the related U.S. private label cosmetics business for 12 months after the close of the transaction.

“We are very pleased with the team’s ability to find the right buyer in a timely manner, executing on our previously announced decision to exit this business,” said Joseph C. Papa, chairman and chief executive officer. “This reflects our on-going process of optimizing our portfolio based on our stringent ROIC guidelines.”

Perrigo Company develops, manufactures and distributes OTC and generic prescription pharmaceuticals, nutritional products, active pharmaceutical ingredients (API) and consumer products. The company is the world’s largest manufacturer of OTC
pharmaceutical products for the store brand market. The company’s primary markets and locations of manufacturing and logistics operations are the U.S., Israel, Mexico and the UK.