Perrigo acquires Patheon's Mexican operations for US$34m
Strengthening its capabilities with the addition of softgel manufacturing technology
Perrigo, currently involved in a takeover battle with Mylan, has bought the Mexican operations of Durham, North Carolina, US-based Patheon for US$34m in cash.
Patheon is the US-based contract drug development and manufacturing services division of DPx Holdings.
Perrigo expects the deal immediately to add to its adjusted pre-share earnings for 2015.
Perrigo Chairman, President and CEO Joseph Papa said: 'Perrigo has long desired to be a prime manufacturer of softgel products and we believe the acquisition of Patheon's Mexican operations serves as an ideal entry point into the space.
'Additionally, and importantly, we believe Perrigo is uniquely positioned to maximize the potential of the business by leveraging our own Mexican operations to drive growth and value for our customers and shareholders.'
Perrigo, headquartered in Ireland, has grown to become the world's largest manufacturer of over-the-counter (OTC) products.