HRA Pharma Rare Diseases SAS

DUBLIN, July 10, 2024 /PRNewswire/ -- Perrigo Company plc (NYSE PRGO) ("Perrigo" or the "Company"), a leading provider of Consumer Self-Care Products, today announced that it has completed the previously announced divestment of the HRA Pharma Rare Diseases business to Esteve Healthcare, S.L. ("ESTEVE") for a total consideration of up to €275 million, consisting of an upfront cash payment of €190 million, subject to customary net debt and working capital adjustments, and up to €85 million in potential earnout payments based on the Rare Diseases business achieving certain sales milestones. Perrigo expects to redeploy proceeds from the divestment for debt repayment. The impact from this transaction was included in the Company's previously issued 2024 outlook. In 2023, the HRA Pharma Rare Diseases business delivered net sales of approximately €50 million and adjusted EBITDA of approximately €20 million. About Perrigo Perrigo Company plc (NYSE: PRGO) is a leading provider of and over-the-counter (OTC) health and wellness solutions that enhance individual well-being by empowering consumers to proactively prevent or treat conditions that can be self-managed. Visit Perrigo online at www.perrigo.com.

ESTEVE has completed the acquisition of HRA Pharma Rare Diseases, a business specialized in rare diseases, from Perrigo Company plc. With this acquisition, ESTEVE expands its portfolio in rare and severe diseases adding, to the current existing offer, three new medications to treat Cushing's syndrome and adrenocortical carcinoma: Metopirone, Lysodren, and Ketoconazole HRA. HRA Pharma Rare Diseases has been a leading company for over 15 years in rare and severe diseases, providing the best care and services to individuals living with rare diseases, and is committed to supporting healthcare professionals worldwide. "This acquisition allows us to accelerate our international expansion, strengthening our global presence and ability to better address unmet needs, thus improving the lives of more people," highlights Staffan Schüberg, Chief Executive Officer of ESTEVE. With annual net revenues in 2023 of approximately 50 million euros, HRA Pharma Rare Diseases has a presence in numerous European countries and the United States with a team of 49 individuals. This agreement represents an investment of up to 275 million euros, structured with an initial fixed contribution and future variable payments tied to revenue. Share

ESTEVE presents the consolidated annual report from 2023, together with the strategy and initiatives to foster the purpose of improving people's lives. ESTEVE successfully consolidated growth with net revenues reaching €710 million, reflecting a notable 10% increase compared to 2022. By region, revenues in Spain accounted for 25% of the total, with a growth of 2% compared to the previous year. The rest of the European Union accounted for 49% of revenues, an increase of 18%. Finally, the remaining 26% came from the rest of the world, with an increase of 9%, especially in the US market. ESTEVE's growth was driven by a significant increase in the manufacturing activity of active pharmaceutical ingredients for third parties. In addition, the company continued to expand its portfolio in areas of specialized medicine. In this sense, investment in R+D amounted to €38 million, including both product and industrial processes innovation. "These positive results enable us to invest in our vision by fostering innovation for patients. In 2023, we made significant strides in our strategy to become a leading international pharmaceutical company in specialty medicine areas. Our roadmap involves further bolstering our growth in Europe, enhancing our presence, and broadening our portfolio." explained Staffan Schüberg, Chief Executive Officer of ESTEVE. In addition, with the aim of reinforcing its growth and international expansion, ESTEVE incorporated Lubea, with a minority stake of 26%, as a new investor in 2023. In this context, ESTEVE has recently announced a binding agreement for the acquisition of HRA Pharma Rare Diseases, a subsidiary of Perrigo Company plc. An operation that, once consolidated, will allow ESTEVE to expand its portfolio in the area of rare and severe diseases. Innovation to improve more than 8 million patients' lives Throughout 2023, ESTEVE's medicines reached around 8 million people worldwide. Among the projects in the pharmaceutical field, last year was marked by the launch of innovations in Parkinson's disease and the approval of an innovative treatment for acute pain that has been launched on the market in 2024. Achieving zero emissions in scope 2 In 2023, ESTEVE continued its journey towards sustainability, steadfast in its objective to become a net-zero emissions by 2050. To achieve this, the company once again powered all its sites with 100% renewable energy and reduced its carbon footprint by 5.3% compared to last year. As a result, ESTEVE achieved zero emissions in scope 2 as a key milestone in the pillar of "environment care". Another pillar of ESTEVE's sustainability strategy is "people care". With the aim of increasing social impact, ESTEVE invested over €800,000 in initiatives to boost people's wellbeing. The team at ESTEVE grew to 1,926 people of 28 nationalities, reflecting a 6% increase from 2022, with women holding 47.5% of management positions. REFERENCE 1. The scope of measuring an organization's carbon footprint considering the emitting sources is classified into three levels: (1) direct greenhouse gas (GHG) emissions from the organization's own energy sources, (2) indirect GHG emissions due to the consumption of electricity purchased and produced by another organization, and (3) other indirect emissions due to the supply chain. the distribution chain or the mobility of employees, among other activities