Perrigo closes Velcera acquisition

ALLEGAN, Mich. — Perrigo Co. has completed its acquisition of a Pennsylvania-based animal health company, the drug maker said Monday.

Perrigo announced that it has closed its purchase of Yardley, Pa.-based Velcera for about $160 million. The company makes OTC products for pets, specializing in products traditionally dispensed only by veterinarians. Its products include PetArmor, a flea and tick repellent that had sales of more than $100 million last year.

"We are very pleased to welcome the Velcera team to the Perrigo family," Perrigo chairman and CEO Joseph Papa said. "This acquisition is another important step forward in executing our plan to expand our pet health product offering."