Perrigo Buys Lab in Mexico
ALLEGAN — Perrigo Co. of Allegan has acquired Laboratorios Diba, S.A., of Guadalajara, Mexico for approximately $25 million in cash. The acquisition is expected to add nearly $15 million in sales to Perrigo's annual revenues.
Privately-held Laboratorios Diba is a store brand manufacturer of over-the-counter and prescription pharmaceuticals, including antibiotics, hormonals and ophthalmics.
Mexico is not new territory for Perrigo. Company Chairman and CEO Joseph C. Papa said Perrigo has been in the Mexican market for more than 65 years and is the leading supplier of prescription and OTC store brand product s in that country.
“The acquisition of Laboratorios Diba will enable us to market and additional 150 formulas and 50 trademarks into the rapidly growing Mexican store brand market, saving consumers money on their health care options,” Papa said. “This further exemplifies Perrigo’s commitment to meeting the growing need for quality, affordable health care around the world.”