Perrigo Co. has acquired Laboratorios Diba, S.A. for approximately $25 million in cash. Based in Guadalajara, Mexico, Laboratorios Diba is a store brand manufacturer of OTC and prescription pharmaceuticals, including antibiotics, hormonals and opthalmics. The acquisition is expected to add nearly $15 million of annual sales.
Perrigo's chairman and chief executive officer, Joseph C. Papa stated, "Perrigo has been in the Mexican market for more than 65 years and is the leading supplier of prescription and OTC store brand products there. The acquisition of Laboratorios Diba will enable us to market an additional 150 formulas and 50 trademarks into the rapidly growing Mexican store brand market, saving consumers money on their healthcare options. This further exemplifies Perrigo's commitment to meeting the growing need for quality, affordable healthcare around the world."