PERRIGO Co plc

Note 3

NOTE 3 -DIVESTITURES

Divestitures During the Three Months Ended September 28, 2024

Rare Diseases Business

On July 10, 2024, we completed the sale of our HRA Pharma Rare Diseases Business (the "Rare Diseases Business") to Esteve Healthcare S.L. ("ESTEVE") for total consideration of $244.5 million, inclusive of net cash received, an estimated working capital adjustment, and contingent consideration with a fair value of $34.5 million as of September 28, 2024. The sale resulted in a pre-tax gain of $5.8 million, net of professional fees, recorded in Other (income) expense, net on the Condensed Consolidated Statement of Operations within our CSCI segment.

The assets associated with this business were reported within our CSCI segment. During previous quarters in 2024, we determined the carrying value of the net assets held for sale of this business exceeded their fair value less costs to sell, resulting in a total impairment charge of $34.1 million during the nine months ended September 28, 2024, inclusive of a goodwill impairment charge of $22.1 million. During the year ended December 31, 2023, we recorded an impairment charge of $90.0 million on the Rare Diseases Business.

Branded Products

During the three months ended September 28, 2024, we soldsix branded products inthree separate transactions for total cash consideration of $33.3 million, which resulted in a pre-tax gain of $26.0 million recorded in Other operating (income) expense, net on the Consolidated Statements of Operations within our CSCI segment.