Perrigo Company plc PRGO announced that it has completed the previously announced acquisition of privately-held Ranir Global Holdings LLC, the global leader in private label oral self-care products. Perrigo had announced its agreement to buy Ranir in May this year.Back then, the company had stated that it expects the acquisition of Ranir to increase adjusted earnings for 2019 by 10 centsAlong with the latest release, Perrigo raised its guidance for 2019 adjusted earnings per share by 10 cents taking into account the acquisition. The company now expects adjusted earnings to be in the range of $3.75 – $4.05 (previously $3.65 – $3.95).Perrigo expects the deal to generate annual operating synergies of approximately $10 million by 2021.Perrigo’s share were up 1.8% on Jul 2 following the announcement. Shares of the company have rallied 27.5% so far this year compared with the industry’s rise of 16.2%. In the first quarter of 2019, Perrigo initiated a transformation process to change itself from a healthcare company to a self-care company. The acquisition of Ranir is part of the transformation processThe company expects the inclusion of Ranir to enhance its already robust store brand portfolio and boost global presence, which will lead to accelerated growth. Ranir generated sales of $287 million in 2018.As part of the transformation process, Perrigo had announced the sale of its animal health business for $185 million in cash to pet medication and wellness company, PetIQ PETQ, in May. Notably, Perrigo re-confirmed its plan to spin-off the Rx segment in 2019 or 2020. The company is launching products, entering into partnerships and investing in capacity expansion as well new technologies to drive growth. It is also looking to partner with natural brand makers and cannabidiol developers.The company also initiated a cost savings program as part of the transformation process, which is expected to generate $100 million in annualized savings.These initiatives are likely to boost Perrigo’s businesses, which is being impacted by pricing and other macro-economic pressure. Moreover, sales of new products and innovation with Perrigo’s core brand products have not been enough to offset the decline in sales due to price competition.Perrigo Company plc Price Perrigo Company plc price | Perrigo Company plc Quote Zacks Rank & Stocks to ConsiderPerrigo is a Zacks Rank #3 (Hold) stock.A couple of better-ranked stocks from the pharma space are Axovant Sciences Ltd. AXGT and BioDelivery Sciences BDSI, each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Axovant’s loss per share estimates have narrowed from $7.00 to $5.71 for 2019 and from $6.48 to $3.59 for 2020 over the past 60 days.BioDelivery also witnessed positive estimate revision. Estimates for 2019 have narrowed from loss of 21 cents per share to 14 cents per share while that for 2020 earnings per share has increased from 20 cents to 25 cents over the past 60 days. The stock has increased 27.3% so far this year.The Hottest Tech Mega-Trend of AllLast year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.See Zacks' 3 Best Stocks to Play This Trend >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Perrigo Company plc (PRGO): Free Stock Analysis Report BioDelivery Sciences International, Inc. (BDSI): Free Stock Analysis Report PetIQ, Inc. (PETQ): Free Stock Analysis Report Axovant Sciences Ltd. (AXGT): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research