Perrigo completes $8.6 billion acquisition of Elan Corp.

DUBLIN — Perrigo has finalized its acquisition of Elan Corp., Perrigo said Wednesday.

The Michigan-based maker of branded and generic prescription and OTC drugs announced last week that the Irish High Court had approved its $8.6 billion deal to buy Ireland-based Elan, the last regulatory hurdle it had to clear before finalizing the deal, which it announced in July.

"The combined company establishes a diversified platform that will position Perrigo well for further expansion," Perrigo chairman and CEO Joseph Papa said. "When combined with the royalty stream from Tysabri, a blockbuster product that generated revenues of $1.6 billion last year, this platform will create an industry-leading global healthcare company with the balance sheet liquidity and operational structure to accelerate our growth."