Perrigo Expands Consumer Business Down Under, Rx Growth Looks Up
This article was originally published in The Tan Sheet
The OTC private-label sales leader acquires OTC and nutritional brands marketed down under. The Dublin-based firm hopes to add to its specialty generics offerings and its “promotable” brands with tuck-in acquisitions.
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The private labeler reported $53 million in new product sales for its Q2, but says the return to stores of branded OTCs, which had been recalled due to manufacturing problems, continues to diminish its consumer health product sales growth.
GlaxoSmithKline sells 19 OTC brands – worth about 1% of its consumer healthcare business – outside the U.S., Canada and Europe to South African firm Aspen Pharmacare. Weight-loss drug alli is GSK’s final remaining non-core OTC following the $263 million deal.
Two companies in the biopharma space began trading publicly this week, one to pay off debt, the other to fund an early-stage pipeline.