Irish over-the-counter (OTC) firm Perrigo has acquired the Mexican operations of US-based contract pharmaceutical services company Patheon for $34m.
The acquisition further strengthens Perrigo’s supply chain capabilities with the addition of softgel manufacturing technology.
The transaction will also further solidify Perrigo’s store brand leadership position in Mexico.
Perrigo chairman, president and CEO Joseph Papa said: "Perrigo has long desired to be a prime manufacturer of softgel products and we believe the acquisition of Patheon’s Mexican operations serves as an ideal entry point into the space.
"Additionally, and importantly, we believe Perrigo is uniquely positioned to maximize the potential of the business by leveraging our own Mexican operations to drive growth and value for our customers and shareholders.
"This acquisition serves as yet another example of Perrigo’s unwavering commitment to provide Quality Affordable Healthcare Products to consumers around the world, and we look forward to further executing on this mission."
The acquisition will broaden Perrigo’s presence, product portfolio and customer network in Mexico.
Perrigo is also engaged in producing branded OTC products, generic extended topical prescription products and receives royalties from multiple sclerosis drug Tysabri.