Perrigo to Restructure Businesses In Belgium

Perrigo Company, an over-the-counter consumer goods and pharmaceutical company, said Thursday it plans to restructure its Omega Pharma Belgium business to improve the financial profile and focus on branded consumer OTC products.

The company said it has signed an agreement with EuroGenerics to terminate a distribution agreement effective Dec. 31 and will allow a distribution agreement with MEDA to expire this month. The company also signed an agreement to sell the Etixx brand and its business effective Jan. 1.

The company’s Belgian businesses and products are expected to achieve FY16 net sales of approximately $155 million dollars with no contribution to margin, Perrigo said.

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