Perrigo Co. (PRGO) announced Monday morning that it agreed to acquire Rosemont Pharmaceuticals Ltd. for approximately $283 million in cash. Rosemont is expected to be $0.08 accretive to adjusted EPS for the remainder of fiscal 2013. Perrigo now expects fiscal 2013 adjusted earnings to be between $5.53 and $5.73 per diluted share as compared to $4.99 in fiscal 2012.
Perrigo gapped open higher Monday and is now up 1.63 at $109.93. The stock has risen to a 1-month high and has re-crossed its 200-day moving average.
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