Perrigo closes acquisition of Prevacid 24HR OTC rights

Perrigo has completed its acquisition of the OTC rights to Prevacid 24HR. The company announced the acquisition of the product from GSK Consumer Healthcare in September, though the financial terms were not disclosed. 

Perrigo executive vice president and president of consumer self-care Americas, Jeff Needham, has said that the acquisition is strategically important for the company’s self-care growth strategy. 

“The closing of this tuck-in transaction expands our U.S. OTC presence with a leading brand in the digestive health category and enhances our leadership position in this strategically important category,” Needham said. “I am confident that we can accelerate the growth of this margin accretive brand, as well as the total category by leveraging Perrigo's commercial infrastructure, including our manufacturing expertise, R&D capabilities and expansive customer network.”