Perrigo Company to acquire Prevacid®24HR business of GlaxoSmithKline.

Perrigo Company, an Irish–registered manufacturer of private label over-the-counter pharmaceuticals, agreed to acquire Prevacid®24HR business of GlaxoSmithKline, a British multinational pharmaceutical company. Financial terms of the agreement were not disclosed. “This acquisition of the well-established brand Prevacid®24HR is another example of how tuck-in acquisitions can expand our robust self-care portfolio. This margin accretive asset strengthens our leadership position in a core category and is expected to accelerate brand and category growth. I am confident our team can enhance the value of the Prevacid® brand. Perrigo is in the unique position to leverage its existing infrastructure and manufacturing expertise as we currently promote the active ingredient lansoprazole as a store brand product, expansive US customer network, and innovation pipeline in the gastrointestinal category, which extends beyond current national brand offerings.” Perrigo CEO and President Murray S. Kessler.