Perrigo acquires Galpharm Healthcare

In a bid to boost British sales, US drug firm Perrigo has acquired over-the-counter drug supplier Galpharm for $86 million (£44 million) in cash.

The company believes this addition will increase sales by more than $55 million a year.

Chairman and chief executive officer of the pharmaceutical firm Joseph C Papa said the purchase would help it meet global demand for affordable health products.

“The acquisition of Galpharm further expands our global presence, complements our existing UK business and increases value for our shareholders,” he continued.

Russell Howard, vice-president and managing director of Perrigo in Britain, said his company will benefit from combining its existing packaging and manufacturing skill with Galpharm’s outsourcing expertise.

He reported that the acquisition shows Perrigo is committed to the UK market, adding that it should help the company become more flexible, offering it greater chances for further business growth.

Galpharm claims it has probably the biggest selection of non-prescription products available in Britain.