Perrigo To Acquire Generic Derma Products

The Perrigo Company has entered into a purchase agreement to acquire nine generic prescription dermatological products and four pipeline products from Glades Pharmaceuticals, Inc. for $56 million in cash plus other consideration for future R&D collaborations. The transaction is expected to close by the end of March.

Perrigo president and chief executive officer, Joe Papa, stated, “We have enhanced our existing U.S. product portfolio and future pipeline with this strategic acquisition, demonstrating our on-going commitment to the generic prescription dermatological space. We believe that these new and future products will expand our leadership position in this category. This acquisition is also an opportunity for us to improve returns on our existing asset base. We look to identify more such opportunities in the future.”