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Perrigo linked with $5b Omega acquisition - report

2 Nov, 2014 18:30
שלח תגובה במיילShiri Habib-Valdhorn

"Bloomberg" reports that Perrigo is in exclusive talks to buy OTC pharmaceutical company Omega.

Pharmaceutical firm Perrigo Company (NYSE:PRGO; TASE:PRGO) is likely to acquire Swedish company Omega Pharma, Bloomberg reported last weekend. The acquisition price is likely to reach €4 billion ($5 billion). Perrigo, trading at a $21.6 billion market cap, has made more than a few acquisitions in recent years, the largest of which was Irish company Elan a year ago for $8.6 billion. Perrigo recently entered the field of women's health products by acquiring a new basket of products.

Perrigo is reported to be in exclusive negotiations for acquiring Omega, after many competing companies, including Sanofi and Actavis, expressed interest in acquiring the company.

Perrigo is a generic drug company specializing in over the counter (OTC) drugs, and active in related markets. Omega also operates in the OTC market, focusing on skin products and pain relievers, and employs a staff of 220. Bloomberg reports that Omega's operating profit in the first half of 2014 was €130 million.

Published by Globes [online], Israel business news - www.globes-online.com - on November 2, 2014

© Copyright of Globes Publisher Itonut (1983) Ltd. 2014

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