Perrigo: Entocort Sales To Be Accretive To 2016 Adj. EPS - Quick Facts

(RTTNews) - Perrigo Company plc (PRGO) announced it will acquire Entocort (budesonide) capsules as well as the authorized generic capsules marketed by Par Pharmaceuticals within the U.S. from AstraZeneca plc for $380 million. The company expects the transaction to immediately exceed Perrigo's ROIC threshold and be more than $0.35 accretive to 2016 adjusted EPS after the exclusion of estimates for intangible amortization, transaction costs and integration related expenses.

Perrigo said Entocort has exhibited consistent revenue streams since the launch of limited generic competition in 2011. In 2016, the company expects Entocor sales of greater than $90 million.

Entocort is a first-line therapy indicated for the induction and maintenance of clinical remission of mild to moderate active Crohn's disease involving the ileum and/or the ascending colon.