Perrigo in exclusive talks to buy Belgian pharmaceutical company Omega Pharma
01 Nov 2014
US manufacturer of private label over-the-counter pharmaceuticals Perrigo Co has entered into exclusive talks to buy Belgian pharmaceutical company Omega Pharma NV.
Perrigo beat rival suitors including Sanofi, Actavis and Boehringer Ingelheim, according to some media reports.
Founded in 1987 by Pharmacy students Marc Coucke and Yvan Vindevogel, Omega Pharma is a specialist in medicines and care and health products, whose drugs including painkiller Solpadein and pacifiers Bibi.
The company was taken private by founder and CEO Marc Coucke and Waterland Private Equity Investments BV in 2012 for $1.15 billion.
Omega, based in Nazereth, is valued today at around $4 billion, according to reports.
Established in 1887, Michigan-based Perrigo, develops, manufactures and distributes over the counter drugs (OTC) and general prescription drugs, infant formulas, nutritional products, dietary supplements and other products.
The company's primary markets are spread over the US, Israel, Mexico, the UK, India, China and Australia.
In July last year, Perrigo, the largest US manufacturer of OTC drugs, acquired Irish biotechnology major Elan Corp Inc for approximately $8.6 billion in a consolidation move aimed at saving taxes and gaining on royalties.