Irish drug firm Perrigo picks up Aspen Global products in $51M cash deal

By VCPOST Staff Reporter

Mar 03, 2014 04:42 PM EST

Perrigo Company PLC has purchased a set of over-the-counter (OTC) drugs from Aspen Global Inc in a cash deal valued at $51 million, according to Jewish Business News.

Joseph C. Papa, the President and Chief Executive Officer (CEO) of Perrigo, said of the deal: "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."

According to Pharma Biz, the newly acquired products, which are being marketed in Australia and New Zealand, include analgesics, vitamins, and health supplements. This product line is expected to produce a yearly revenue amounting to $20 million, the report detailed. 

Peerigo is an international pharmaceutical supplier that produces and distributes OTC and prescription drugs, including nutritional supplements throughout the US, the UK, Australia, Canada, Latin America, and over 40 other global markets, Jewish Business News reported.

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