Perrigo sells generic drug business for $1.55 billion Nick Manes, Crain's Detroit Business Perrigo Company has sold its generic drug business. The Allegan County, Pa.-based pharmaceutical company, which is domiciled for tax purposes in Ireland, announced Monday morning that it would offload the Generic Rx Pharmaceuticals business to New York-based private investment firm Altaris Capital Partners LLC for a total of $1.55 billion. Perrigo said the deal includes $1.5 billion in cash and that Altaris will assume in excess of $50 million in potential milestone payments related to research and development, as well as contingent purchase obligations with third-party partners the company works with, according to a news release.