Perrigo announces acquisition of Laboratorios Diba for $25 million

ALLEGAN, Mich. An American generic drug maker has acquired a Mexican manufacturer of store-brand OTC and prescription drugs.

Perrigo announced Tuesday that it had bought Guadalajara, Mexico-based Laboratorios Diba for $25 million in cash. The Allegan, Mich.-based Perrigo expects the acquisition to add $15 million to annual sales.

“Perrigo has been in the Mexican market for more than 65 years and is the leading supplier of prescription and OTC store-brand products there,” Perrigo chairman and chief executive officer Joseph Papa said in a statement. “The acquisition of Laboratorios Diba will enable us to market an additional 150 formulas and 50 trademarks into the rapidly growing Mexican store-brand market, saving consumers money on their healthcare options.”

The purchase of the Mexican company follows Perrigo’s September acquisition of Holland, Mich.-based JB Laboratories.