Perrigo Announces Infant Formula Sale Deal Worth Up to $175 Million

Perrigo announced Thursday that it had agreed to sell its infant formula business to MeridianMade in a deal with potential payments totaling as much as $175 million.

The terms provide for $40 million in cash upfront. Perrigo could receive up to $135 million more, depending on performance milestones through 2030.

The $175 million figure is the maximum potential value, combining the initial payment with the milestone-based amount. The additional payments are tied to future performance, rather than included in the upfront cash.