Perrigo acquires Entocort from AstraZeneca

DUBLIN — Perrigo on Monday announced that it would be acquiring both the branded and generic versions of Entocort (budesonide) capsules. Perrigo will be paying $380 million for the Crohn’s disease treatment and its generics marketed by Par Pharmaceuticals.

"We are extremely excited to acquire Entocort® from a world-class organization such as AstraZeneca, which provided patients with access to this important medication,” Perrigo chairman and CEO Joseph Papa said. “We are excited to add this margin-enhancing asset to our already robust Rx portfolio and remain committed to pursuing accretive transactions, such as this one, to continue delivering superior value for our shareholders."

The transaction is expected to close by the end of 2015.