Perrigo Company plc, a leading global provider of "Quality, Affordable Self-care Products™", has announced that the company expects to receive a milestone payment of $250 million from RPI Finance Trust, an affiliate of Royalty Pharma ("RPI"). This expected payment is the result of RPI's contingent payments for Tysabri® exceeding $333 million in calendar 2018.
Perrigo's President and CEO Murray S. Kessler stated, "Receipt of this milestone payment will enhance our financial flexibility to drive growth organically and through bolt-on acquisitions. We look forward to sharing more details about the company's transformation plans including our capital allocation strategy during our upcoming Analyst Event, planned for this spring."
Under Perrigo's agreement with RPI, Perrigo has the right to receive an additional $400 million milestone payment if RPI's contingent payments for Tysabri® sales in 2020 exceed $351 million.
