Company: PRGO
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001585364-25-000156
Chunk: 25

Company: PERRIGO Co plc
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 8
Chunk 25
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327 million, consisting of an upfront cash payment of €300 million to be paid by Kairos at closing, subject to customary adjustments, and up to €27 million in potential earn-out payments based on the Dermacosmetics Business achieving certain performance thresholds. The sale is expected to close in the first quarter of 2026, subject to customary regulatory approvals and consultation with employee works councils. Following the closing of KKR’s acquisition of Karo Healthcare AB on August 27, 2025, Kairos has transferred the binding agreement to acquire the Dermacosmetics Business to Karo Healthcare AB.As of September 27, 2025, the Dermacosmetics Business was classified as held for sale as the reporting criteria were met. The assets and liabilities associated with this business were reported within our CSCI segment.As of the held for sale date and as of September 27, 2025, the estimated fair value less costs to sell of the Dermacosmetics Business exceeded its carrying value. As such, no impairment charge was recorded during the three months ended September 27, 2025. The assets and liabilities held for sale related to the Dermacosmetics Business were reported within Current assets held for sale and Current liabilities held for sale on the Condensed Consolidated Balance Sheets. The assets and liabilities of the Dermacosmetics Business reported as held for sale as of September 27, 2025 totaled $280.5 million and $37.4 million, respectively. 

NOTE 5 - DISCONTINUED OPERATIONS

Our discontinued operations primarily consist of our former Rx segment, which held our prescription pharmaceuticals business in the U.S. and our pharmaceuticals and diagnostic businesses in Israel (collectively, the “Rx business”). In connection with the sale of the Rx business, Perrigo retained certain pre-closing liabilities arising out of antitrust (refer to Note 17 under the header "Price-Fixing Lawsuits") and opioid matters and the Company’s Albuterol recall, subject to, in each case, Altaris Capital Partners, LLC ("Altaris") obligation to indemnify the Company for fifty percent of these liabilities up to an aggregate cap on Altaris' obligation of $50.0 million. As of September 27, 2025, the loss accrual for litigation contingencies reflected on the Condensed Consolidated Balance Sheet in Other accrued liabilities included $31.0 million related to price-fixing lawsuits. A recovery receivable was recorded for fifty percent of this liability as of September