- Perrigo (NASDAQ:PRGO) is exploring a sale of the royalties from its multiple sclerosis drug Tysabri, possibly to privately held Royalty Pharma, Reuters reports.
- The royalty divestment is one of the actions requested by Starboard Value earlier this week when it disclosed a 4.6% stake in PRGO, but the company had been exploring a sale of Tysabri royalties before Starboard's proposals, according to the report.
- Tysabri is marketed through a partnership with Biogen (NASDAQ:BIIB), which paid more than $300M in royalties to PRGO last year and could be worth ~$2.8B in a sale, RBC Capital says.