Perrigo announced that its board approved a plan to separate the company’s Prescription Pharmaceuticals, or Rx, business following the company’s previously announced strategic portfolio review. Continuing its focus on enhancing shareholder value, the board believes a separation of the Rx business will better enable this unique asset to capitalize on its platform of differentiated generic pharmaceutical products and allows Perrigo to focus on expanding its leading consumer business. The board will consider all value-enhancing options, including a possible tax-efficient separation to shareholders, a sale or merger.
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