Deal-hungry Perrigo is looking for more seats at the over-the-counter table, and the drugmaker may soon get its wish. The company has entered exclusive talks to acquire Belgian OTC maker Omega Pharma, inching past big-name competitors like Sanofi, Actavis and Boehringer Ingelheim.
Smokers often turn to over-the-counter nicotine lozenges to cut their urges when they are trying to quit smoking. It turns out that products made by Perrigo and sold through a whole host of retailers like Wal-Mart and CVS might not work that well.
What's an OTC drugmaker worth in the race to the top of the consumer healthcare space? Potentially more than $5.3 billion, if that drugmaker is Belgium's Omega Pharma.
Talk about peer pressure. First, a couple of U.S. drugmakers pull off trans-Atlantic deals that shift their official HQs and lower their tax rates. Next, some bigger names go for the same tax-inversion strategy. Now, investors want to know why every drugmaker isn't jumping in.
OTC generics maker Perrigo could be the next tax-advantaged company in line for a buyout. And while Perrigo hasn't confirmed any M&A plans, speculation has been enough to send shares soaring.
Over-the-counter drug specialist Perrigo has been on an expansion roll the last two years, culminating with its $8.6 billion buyout last summer of Ireland-based drug company Elan. Its latest earnings reflect that growth, with sales up 11% and adjusted net income jumping 45%.
The FDA has asked drugmakers to recall several products with dosing systems or potency variations that could lead to dangerous overdoses.
According to a new report from consultant PwC, there was a decline in the two Vs--volume and value--after some big deals in the first quarter pushed both of those up.
There's been a lot of talk about a dearth of innovation in the pharma business. But some drugmakers don't lack creativity. In fact, a few of them actually made Forbes' latest list of 100 most innovative companies on the globe.
Perrigo has snatched up Elan for $8.6 billion in a cash-and-stock deal. Call it a case of opposites attracting: U.S.-based Perrigo specializes in cheap, store-brand generics, while Elan is an Irish biotech best know for its longstanding--and now dissolved--partnership with Biogen Idec on the multiple sclerosis drug Tysabri.