Perrigo acquires portfolio of Australian OTC products for $51 million

DUBLIN — Perrigo on Friday announced that it has acquired a basket of value-brand OTC products sold in Australia and New Zealand from Aspen Global for $51 million in cash. 

The products are primarily sold through the mass retail channel and include the Herron range of analgesics, vitamins and supplements. This basket of products is expected to generate at least $20 million in annual revenue.

"The acquisition of OTC products in Australia enhances our position by broadening our product offering and increasing our relevance with the mass retail customers," stated Joseph Papa, Perrigo chairman, president and CEO. "This deal furthers our strategy to expand our Consumer Healthcare portfolio internationally, while making quality products more affordable for consumers and customers around the world."