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Perrigo acquires Galpharm for USD 86m

US-based pharmaceutical supplier Perrigo Group snaps up Galpharm Healthcare for USD 86m

US-based pharmaceutical supplier Perrigo Group has bought Galpharm Healthcare for USD 86m.

The UK-headquartered company was put up for sale towards the end of 2007 and is the UK's leading supplier of over-the-counter (OTC) own-label medicines and healthcare products.

Perrigo now adds Galpharm to its existing UK operations and gains the latter's site in Devon, which manufactures its OTC products for pharmaceutical firms. It also gains Galpharm's operation centre in Derbyshire, which makes vitamins, minerals, food supplements and herbal remedies.

Perrigo said in a statement that no immediate operational changes would be made as a result of the takeover and the Galpharm brand and business would continue to operate from its UK headquarters.

Russell Howard, vice-president and managing director of Perrigo in the UK, said: "The purchase of Galpharm Healthcare consolidates Perrigo's position as the leading supplier of own-label over-the-counter medicines and vitamins, minerals and supplements to major UK grocery and pharmacy retailers with a broader range of products."

ìThis acquisition is further evidence of Perrigo's commitment to the UK marketplace and is another significant step in our growth strategy in both the own label market place and contract manufacturing, concluded Howard.

Galpharm sells the painkillers ibuprofen and paracetamol, as well as cetirizine and loratadine, which treat fever and other allergies. The firm also sells products in Italy, Poland and Holland and sources products from suppliers in the UK, Ireland, USA, Greece, the Netherlands, Spain, Hungary, Israel and India.

Perrigo also has sites in Israel, Mexico, Germany, China and India.

14th January 2008

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