M&A Deal Summary

Prestige Consumer Healthcare Acquires Akorn - Consumer Health Business

On May 27, 2021, Prestige Consumer Healthcare acquired life science company Akorn - Consumer Health Business from Akorn for 230M USD

Acquisition Highlights
  • This is Prestige Consumer Healthcare’s 1st transaction in the Life Science sector.
  • This is Prestige Consumer Healthcare’s 3rd largest (disclosed) transaction.
  • This is Prestige Consumer Healthcare’s 13th transaction in the United States.
  • This is Prestige Consumer Healthcare’s 1st transaction in Illinois.

M&A Deal Summary
Date 2021-05-27
Target Akorn - Consumer Health Business
Sector Life Science
Buyer(s) Prestige Consumer Healthcare
Sellers(s) Akorn
Deal Type Divestiture
Deal Value 230M USD

Target

Akorn - Consumer Health Business

Lake Forest, Illinois, United States
Akorn's Consumer Health Business primarily consists of the following over-the-counter brands: TheraTears, Diabetic Tussin, MagOx, Multi-betic, and Zostrix. The business optimizes the core prescription drug portfolio and enhances our capacity to make growth-oriented investments.

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Buyer(S) 1

Buyer

Prestige Consumer Healthcare

Tarrytown, New York, United States

website

Category Company
Founded 1996
Sector Consumer Products
Employees535
Revenue 1.1B USD (2022)
DESCRIPTION

Prestige Consumer Healthcare markets and distributes brand name over-the-counter medicines and household cleaning products throughout the US, Canada, Australia, and other select international markets. Prestige Consumer was founded in 1996 and is based in Tarrytown, New York.

DEAL STATS #
Overall 14 of 14
Sector (Life Science) 1 of 1
Type (Divestiture) 6 of 6
State (Illinois) 1 of 1
Country (United States) 13 of 13
Year (2021) 1 of 1
Size (of disclosed) 3 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-02 Prestige Brands Holdings - Household Cleaning Business

Tarrytown, New York, United States

Prestige Brands Holdings, Inc. - Household Cleaning Business includes Comet, Spic and Span, Cinch, Chore Boy and Chlorinol household product brands and related inventory. With the sale of these brands the Company’s portfolio will be comprised entirely of consumer healthcare brands. The divestiture enables the Company to further concentrate its brand-building efforts around its “invest for growth” consumer healthcare brand portfolio to help support long-term organic growth.

Sell $69M

Seller(S) 1

SELLER

Akorn

Lake Forest, Illinois, United States

website

Category Company
Founded 1971
Sector Life Science
Employees1,972
Revenue 1.1B USD (2016)
DESCRIPTION

Akorn, Inc. is a niche generic pharmaceutical company engaged in the development, manufacture and marketing of multi-source and branded pharmaceutical products in the areas of ophthalmology, antidotes, anti-infectives, and controlled substances for pain management and anesthesia in the United States and across the globe. Akorn, Inc. was founded in 1971 and is based in Lake Forest, Illinois.

DEAL STATS #
Overall 3 of 4
Sector (Life Science) 2 of 2
Type (Divestiture) 2 of 3
State (Illinois) 1 of 2
Country (United States) 3 of 4
Year (2021) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-24 Aciex Therapeutics

Boston, Massachusetts, United States

Aciex Therapeutics, Inc. is an ophthalmic pharmaceutical company centered on developing first in class products to treat ocular diseases.

Sell $120M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-09 Akorn - Ophthalmic Products

Lake Forest, Illinois, United States

Akorn's Ophthalmic seven products include established glaucoma therapies Zioptan, Cosopt, Cosopt PF, and Betimol, along with Azasite, Akten, and the ocular surface repair agent AcellFX.

Sell -
Mergr

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