Perrigo buys up dermatological brands

By Simon Pitman

- Last updated on GMT

Related tags Over-the-counter drug Time

The healthcare supplier has paid $56m to buy up nine generic
prescription dermatological products and four products that are
currently in development from Glades Pharmaceutical.

Perrigo, which is the world's largest manufacturer of over-the-counter pharmaceutical and nutrional products, said that the deal was paid for in cash and also includes consideration of future collaboration on research and development products. Glades, which specializes in brand dermatological products, including capsicum and intense moisturizer skin treatments, wart treatments and extra strength anti-perspirants. Although the companies have not revealed which brands are included in the deal, it was stated that it included dermatological treatments for skin inflammations and infections, including athletes foots, dry skin and acne. Perrigo CEO Joe Papa said that the acquisition of the new brands and future products would serve to expand its leadership in the area of OTC dermatological treatments. "We have enhanced our existing US product portfolio and future pipeline with this strategic acquisition, demonstrating our ongoing commitment to the generic prescription dermatological space,'' he said. Adding that the company was looking to make further acquisitions of this kind in the future, Papa said: "This acquisition is also an opportunity for us to improve returns on our existing asset base." The transaction is expected to be formalized and closed at the end of March and eventually should help boost Perrigo's annual turnover by $20m. In 2006 the company reported net sales of €1.3m, up 33.5 per cent on the previous year. The company also announced this week that it has paid $12m to acquire Qualis Inc, a privately-owned manufacturer of store brand OTC lice treatments.

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