Perrigo to invest $12.5 million in Cobrek

ALLEGAN, Mich. Perrigo will invest $12.5 million in cash for a minority stake in Pentech Pharmaceuticals’ Cobrek Pharmaceuticals, which specializes in the research and development of niche generic dosage forms, according to the Associated Press.

As part of the agreement, Pentech will contribute its application for a generic version of Luxiq foam, a topical steroid by Connectics. Perrigo will contribute two of its early stage generic topical products. The parties will share the development costs and profits generated by these products, and Perrigo will be the exclusive distributor.

Perrigo said the collaboration will enhance its existing U.S. product portfolio and future pipeline of generic prescription dermatology drugs.