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news.Perrigo Company, which develops, manufactures and distributes over-the-counter and prescription pharmaceuticals, has acquired JB Laboratories for approximately $44 million in cash. The acquisition is expected to add more than $70 million of annual sales.
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Joseph Papa, chairman and CEO of Perrigo, said: “The acquisition of JB Laboratories will further expand our high-quality manufacturing base and provide additional FDA-approved production capacity to help us service our current and future customer needs.
“And in addition to the immediate top line sales contribution, this investment will be accretive to earnings this year and beyond. This acquisition further exemplifies Perrigo’s commitment to meeting the world’s growing need for quality, affordable healthcare.”