Perrigo Company plc has acquired a basket of value-brand OTC products sold in Australia and New Zealand from Aspen Global Inc. for $51 million in cash. The products are primarily sold through the mass retail channel and include the Herron? range of analgesics, vitamins and supplements. This basket of products is expected to generate at least $20 million in annual revenue.
Perrigo's Chairman, President and CEO Joseph C. Papa stated: "This announcement is the result of outstanding contributions from the entire team. The acquisition of OTC products in Australia enhances our position by broadening our product offering and increasing our relevance with the mass retail customers. This deal furthers our strategy to expand our Consumer Healthcare portfolio internationally, while making quality products more affordable for consumers and customers around the world."
From its beginnings as a packager of generic home remedies in 1887, Perrigo Company plc, headquartered in Ireland, has grown to become a leading global healthcare supplier. Perrigo develops, manufactures and distributes over-the-counter (OTC) and generic prescription (Rx) pharmaceuticals, nutritional products and active pharmaceutical ingredients (API), and receives royalties from Multiple Sclerosis drug Tysabri. The Company is the world's largest manufacturer of OTC healthcare products for the store brand market and an industry leader in pharmaceutical technologies.