By Colin Kellaher

Perrigo Co. on Monday said it has prevailed in arbitration related to its $4.5 billion acquisition of Belgium-based Omega Pharma NV, which was completed in 2015.

Dublin-based Perrigo bought Omega from Belgian businessman Marc Coucke and a portfolio company of Dutch firm Waterland Private Equity in a bid to expand its portfolio of over-the-counter drugs and broaden its market presence throughout Europe, Perrigo later claimed the sellers fraudulently presented Omega's finances in a bid to secure a higher price.

In a filing with the U.S. Securities and Exchange Commission on Monday, Perrigo said the tribunal under the Belgian Centre for Arbitration and Mediation, known as Cepani, found the sellers liable in incidental fraud and awarded damages of 266.3 million euros ($314.1 million), along with substantial interest.

Perrigo said the tribunal also dismissed the sellers' counterclaims in their entirety.

Perrigo said it estimates the sellers' total liability is roughly $413 million, which is due within 30 days of the tribunal's Aug. 27 decision. The company added that it "will take every step necessary" to recover the award "in full and without delay."

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

08-30-21 0820ET