Pharma BD Deal Intelligence
Outcome grade pending — assessed 5 years post-close.
Full analysis, sources & comparables →Perrigo Company plc agreed to buy France-based HRA Pharma from Astorg and Goldman Sachs Asset Management for 1.8 billion euros, expanding the Irish company's…
Perrigo announced a $2.1 billion deal to acquire France's HRA Pharma, picking up category-leading consumer health brands ellaOne, Compeed and Mederma. The…
Perrigo completed divestment of the HRA Pharma Rare Diseases business to Esteve Healthcare for up to EUR275M (EUR190M upfront + up to EUR85M earnout); RD unit…
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Perrigo acquired HRA Pharma from Astorg Partners and Goldman Sachs Asset Management for EUR 1.8B (~$2.1B) cash, announced September 8, 2021 and closed April 29, 2022, expanding its consumer self-care platform with category-leading brands including Compeed (blister care), ellaOne (women's health) and Mederma (scar care). Post-close, the women's-health franchise delivered the deal's signature value event: on July 13, 2023 the FDA approved Opill, the first-ever OTC daily oral contraceptive in the US (all ages), which began broad retail and online distribution in Q1 2024. In a portfolio refinement, Perrigo divested the non-core HRA Pharma Rare Diseases business to Esteve Healthcare on July 10, 2024 for up to EUR 275M (EUR 190M upfront plus up to EUR 85M in earnouts; the unit posted ~EUR 50M 2023 net sales / ~EUR 20M adj. EBITDA), redeploying proceeds to debt repayment while retaining the core consumer self-care brands. The deal thesis — building Perrigo's branded consumer self-care platform around women's health and adjacent OTC categories — holds and was validated by the Opill launch.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| Perrigo Company plc / HRA Pharma (this deal) | 2021 | $2.1B | — |
| Perrigo Company plc / Elan Corporation plc | 2013 | $8.6B | 32 |
| Sumitovant Biopharma / Myovant Sciences Ltd. | 2022 | $1.7B | 60 |
| Astellas Pharma Inc. / Ogeda SA | 2017 | $850M | 59 |
| Mylan Inc. / Famy Care Limited (women's healthcare businesses) | 2015 | $800M | 56 |
| Watson Pharmaceuticals (Actavis Inc.) / Uteron Pharma SA | 2013 | $305M | 16 |
| Organon & Co. / Forendo Pharma | 2021 | $954M | — |
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