Wells Fargo analyst David Maris called Perrigo's "unexpected" delay in its Q4 earnings call that was previously scheduled for today "an unfortunate development," stating that he had been anticipating the company was making progress. Maris added that he has no reason to think this delay is a sign of broader issues, but it does create greater uncertainty, which is something the company "does not need" given it had previously disclosed material weaknesses in its internal control over financial reporting related to income taxes. Maris keeps a Market Perform rating on Perrigo.

Perrigo announced that pharmaceutical company Esteve Healthcare has signed a binding offer to acquire Perrigo's HRA Pharma Rare Diseases business for a total consideration of up to EUR 275M, consisting of an upfront cash payment of EUR 190M and up to EUR 85M in potential earnout payments based on the Rare Diseases business achieving certain sales milestones. Following the information and consultation process with HRA Pharma Works Council in France, Perrigo would be able to exercise the put option granted by Esteve and enter into a definitive agreement with Esteve for the sale of the Rare Diseases business. The proposed final transaction is expected to close during the third quarter of 2024, subject to the satisfaction of the HRA Works Council consultation and customary closing conditions, including receipt of regulatory approvals.