Perrigo has settled its Hatch-Waxman litigation relating to Sernivo Spray brought by Promius Pharma. Terms of the settlement are confidential. Sernivo Spray is indicated for the treatment of mild-to-moderate plaque psoriasis in patients 18 years of age or older. Annual market sales for the 12 months ending September 2018 were approximately $13M.

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.