Perrigo expands EU capabilities with Naturwohl Pharma acquisition

Perrigo has announced the acquisition of the German company Naturwohl Pharma, a move that will strengthen its position in the European over-the-counter (OTC) market.

Naturwohl Pharma is the manufacturer of the dietary supplement brand Yokebe, which is expected to generate approximately 30 million euros (2.12 billion pounds) in full-year net sales for 2015.

The transaction has been unanimously approved by the boards of directors of both Perrigo and Naturwohl Pharma, and is expected to close in the third quarter, subject to regulatory approval.

With this new acquisition, Perrigo is seeking to build on the momentum generated by its takeover of Omega Pharma earlier this year, which provided the company with a robust OTC product portfolio and a strong European commercial infrastructure. 

This was bolstered by the more recent purchase of a number of well-established European brands from GlaxoSmithKline.

Joseph Papa, Perrigo's chairman, president and chief executive officer, said: "Perrigo is uniquely positioned to maximise the potential of these brands to capture an even greater share of the $30 billion European over-the-counter market opportunity."