| Sept 16
Sept 16 Perrigo Company Plc, the
generic drug manufacturer targeted by activist investor
Starboard Value LP, is exploring a sale of the royalties it
receives from sales of multiple sclerosis drug Tysabri, people
familiar with the matter said.
The divestment of the royalties is one of the actions that
Starboard called for on Monday when it disclosed a 4.6 percent
stake in the company and complained about its sagging stock
Perrigo had been exploring selling the Tysabri royalties
prior to Starboard coming out with its proposals, the people
said on Friday. Royalty Pharma, a privately held company that
specializes in acquiring drug royalties, is one of the potential
acquirers, the people added.
There is no certainty that the process will lead to a sale,
the people added.
The sources asked not to be identified because the matter is
not public. Perrigo declined to comment, while Royalty Pharma
did not immediately respond to a request for comment.
(Reporting by Carl O'Donnell in New York; Editing by Bernard