US generic drug maker Perrigo acquires Rosemont Pharmaceuticals
12 Feb 2013
US generic drug maker Perrigo Co today said that it has acquired Rosemont Pharmaceuticals Ltd for about $283 million in cash in order to become the leader in the UK oral liquid formulations market.
Founded in 1967, Rosemont is a specialty and generic prescription pharmaceutical company focused on the manufacturing and marketing of oral liquid formulations.
Similar to Perrigo's position in the niche US extended topical generic prescription market, Rosemont is the niche leader in the specialty UK oral liquid formulations market.
Its portfolio of liquid formulations include those for patients with dysphagia or swallowing difficulties, a common problem with the elderly.
''We continue to focus on expanding our international footprint and view the acquisition of Rosemont as an opportunistic next step given our existing presence in the UK. This transaction represents another step forward executing our strategy to make quality healthcare products more affordable for consumers around the world," said Joseph Papa, chairman, president and CEO of Perrigo.
From its beginnings as a packager of generic home remedies in 1887, Michigan-based Perrigo has grown to become a leading global provider of healthcare products.