Perrigo Company Acquires U.K.-based Rosemont Pharmaceuticals Ltd. For Approximately £180 Million Or $283 Million

    Perrigo Company Acquires U.K.-based Rosemont Pharmaceuticals Ltd. For
                  Approximately £180 Million Or $283 Million

- Expands Perrigo's international presence while further enhancing its
manufacturing and research and development capabilities

- Rosemont's #1 position in the specialty U.K. oral liquid formulations market
strongly compliments Perrigo's leading U.K. OTC business, enhancing product
diversification and the business's margin profile

- Uniquely positions Perrigo to launch multiple specialty and generic
prescription liquid formulations into the U.K. and continental European
markets, enhancing accessibility and affordability for international consumers

- The acquisition is anticipated to be approximately $0.24 accretive to
adjusted EPS and approximately neutral to GAAP EPS in its first 12 months
post-closing and accretive to ROIC in fiscal year 2015

PR Newswire

ALLEGAN, Mich., Feb. 11, 2013

ALLEGAN, Mich., Feb.11, 2013 /PRNewswire/ --Perrigo Company (Nasdaq: PRGO;
TASE) today announced that it has signed a definitive merger agreement and has
completed the acquisition of Leeds, U.K.-based Rosemont Pharmaceuticals Ltd.
("Rosemont") for approximately £180 million or $283 million in cash.

(Logo: http://photos.prnewswire.com/prnh/20120301/DE62255LOGO)

Founded in 1967, Rosemont is a specialty and generic prescription
pharmaceutical company focused on the manufacturing and marketing of oral
liquid formulations. Rosemont's current portfolio consists of more than 90
products and is well positioned for future growth given its diverse product
pipeline, relevant favorable demographics and export opportunities. Rosemont's
net sales during calendar year 2012 were approximately £40 million or more
than $60 million with gross and operating margins similar to those of
Perrigo's Rx pharmaceuticals segment, where Rosemont's results of operations
will be included.

Key benefits of the transaction include:

  oAttractive Specialty Market: Rosemont's portfolio of liquid formulations
    addresses a critical medicinal need within pediatrics, as well as for
    those patients with dysphagia (swallowing difficulties), a common malady
    in a growing elderly population.
  oImmediate Access to Oral Liquid Formulations: The transaction is aligned
    with Perrigo's strategic growth objective to expand into additional liquid
    categories and diversified prescription medicines to further broaden its
    customer product portfolio.
  oLeadership Position in Sizeable and Growing Market: Favorable demographic
    drivers have been increasing demand for easier to swallow products.
    Rosemont's leading position in this market today, combined with its robust
    pipeline portfolio and access to under-penetrated international markets,
    represents an exciting opportunity for future growth and European
    expansion.
  oSynergy Opportunity: The acquisition allows Perrigo to expand its U.K.
    portfolio while leveraging its established distribution and administrative
    infrastructures and long standing customer relationships.

Perrigo Chairman, President and CEO Joseph C. Papa stated, "We continue to
focus on expanding our international footprint and view the acquisition of
Rosemont as an opportunistic next step given our existing presence in the U.K.
Similar to Perrigo's position in the niche U.S. extended topical generic
prescription market, Rosemont is the #1 player in the niche specialty U.K.
oral liquid formulations market. We are excited to announce the acquisition of
Rosemont and welcome its more than 200 employees to the Perrigo family. This
transaction represents another step forward executing our strategy to make
quality healthcare products more affordable for consumers around the world."

Rosemont is expected to be $0.08 accretive to adjusted EPS for the remainder
of fiscal 2013, and approximately $0.04 to $0.07 dilutive to GAAP EPS after
the inclusion of estimates for intangible amortization, transaction and
integration related expenses.

Including this acquisition, Perrigo now expects fiscal 2013 reported earnings
to be between $4.67 and $4.87 per diluted share as compared to $4.18 in fiscal
2012 and fiscal 2013 adjusted earnings to be between $5.53 and $5.73 per
diluted share as compared to $4.99 in fiscal 2012.

From its beginnings as a packager of generic home remedies in 1887, Allegan,
Michigan-based Perrigo Company has grown to become a leading global provider
of quality, affordable healthcare products. Perrigo develops, manufactures and
distributes over-the-counter (OTC) and generic prescription (Rx)
pharmaceuticals, infant formulas, nutritional products, pet health, dietary
supplements and active pharmaceutical ingredients (API). 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 logistics
operations have evolved over the years to include the United States, Israel,
Mexico, the United Kingdom, India, China and Australia. Visit Perrigo on the
Internet (http://www.perrigo.com).

Note: Certain statements in this press release are forward-looking statements
within the meaning of Section 21E of the Securities Exchange Act of 1934, as
amended, and are subject to the safe harbor created thereby. These statements
relate to future events or the Company's future financial performance and
involve known and unknown risks, uncertainties and other factors that may
cause the actual results, levels of activity, performance or achievements of
the Company or its industry to be materially different from those expressed or
implied by any forward-looking statements. In some cases, forward-looking
statements can be identified by terminology such as "may," "will," "could,"
"would," "should," "expect," "plan," "anticipate," "intend," "believe,"
"estimate," "predict," "potential" or other comparable terminology. The
Company has based these forward-looking statements on its current
expectations, assumptions, estimates and projections. While the Company
believes these expectations, assumptions, estimates and projections are
reasonable, such forward-looking statements are only predictions and involve
known and unknown risks and uncertainties, many of which are beyond the
Company's control. These and other important factors, including those
discussed under "Risk Factors" in the Company's Form 10-K for the year ended
June 30, 2012, as well as the Company's subsequent filings with the Securities
and Exchange Commission, may cause actual results, performance or achievements
to differ materially from those expressed or implied by these forward-looking
statements. The forward-looking statements in this press release are made only
as of the date hereof, and unless otherwise required by applicable securities
laws, the Company disclaims any intention or obligation to update or revise
any forward-looking statements, whether as a result of new information, future
events or otherwise.

PERRIGO COMPANY
FY 2013 AND ROSEMONT GUIDANCE
RECONCILIATION OF NON-GAAP MEASURES
(unaudited)
                                                    Full Year
                                                    Fiscal 2013 Guidance
 FY13 reported diluted EPS range ^(2)               $4.67 - $4.87
  Deal-related amortization ^(1,2)               0.68
  Charge associated with inventory step-up ^(2)  0.11
  Charges associated with acquisition and        0.05
 severance costs^(2)
  Loss on sale of investment                     0.02
 FY13 adjusted diluted EPS range                    $5.53 - $5.73
 (1) Amortization of acquired intangible assets related to business
 combinations and asset acquisitions
 (2) Includes estimate for the February 11, 2013 acquisition of Rosemont
 Pharmaceuticals Ltd. but does
  not include any estimate related to the
 Velcera Inc. acquisition
                                                    First 12 Months Accretion
                                                    Post-Closing Rosemont
 Rosemont accretion first 12 months post-close -    $0.02
 reported diluted EPS
  Deal-related amortization ^(1)                 0.13
  Charge associated with inventory step-up      0.06
  Charges associated with acquisition-related    0.03
 costs^
 Rosemont accretion first 12 months post-close -    $0.24
 adjusted diluted EPS
 (1) Amortization of acquired intangible assets related to business
 combinations and asset acquisitions

SOURCE Perrigo Company

Website: http://www.perrigo.com
Contact: Arthur J. Shannon, Vice President, Investor Relations and
Communication, +1-269-686-1709, ajshannon@perrigo.com, Bradley Joseph, Senior
Manager, Investor Relations and Communication, +1-269-686-3373,
bradley.joseph@perrigo.com
 
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