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Perrigo to buy Paddock for $540 million
ALLEGAN, Mich. — Perrigo will buy Paddock Labs for more than half a billion dollars, Perrigo said Thursday.
Perrigo, an Allegan, Mich.-based company that makes generic prescription and over-the-counter drugs, including private-label products, announced that it would buy Minneapolis-based Paddock for $540 million in cash.
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Dr. Reddy's receives FDA approval for generic GERD treatment
HYDERABAD, India — Indian drug maker Dr. Reddy’s Labs has launched a generic treatment for gastroesophageal reflux disease.
The company announced Thursday the launch of pantoprazole sodium delayed-release tablets in the 20-mg and 40-mg strengths. The drug is a version of Protonix, made by Wyeth, now part of Pfizer.
Pantoprazole sodium delayed-release tablets had sales of around $1.8 billion during the 12-month period ended in September 2010, according to IMS Health.