Perrigo acquires European drug supplier for $4.48B
Perrigo is expanding its reach into Europe by acquiring one of the continent's biggest suppliers of non-prescription medicines in a deal valued at about $4.48 billion.
The over-the-counter drugmaker Perrigo Co. Plc said today that it will pay a combination of cash and stock to acquire Omega Pharma in Nazareth, Belgium.
The deal is worth about 3.58 billion euros, or $4.48 billion, when counting debt.
Perrigo said the deal accelerates its international growth and diversifies its business.
The company moved its headquarters to Dublin from Allegan, its current North American base, after agreeing last year to buy Irish drugmaker Elan for $8.6 billion.
Shares of Perrigo are slipping in pre-market trading.