Perrigo Acquires Pet Care Company Velcera For $160m

Generic drug maker Perrigo announced today that it has bought privately held pet care brand Velcera in a deal worth $160 million.
The acquisition is the second in the animal healthcare market made by Perrigo in the past four months as it seeks to bring its successful over-the-counter model to pet care. Perrigo entered the animal healthcare market in September 2012 when it bought Sergeant’s Pet Care Products for $285 million.
Perrigo, the world's largest manufacturer of over-the-counter drugs for the private label market, saw its shares rise by as much as seven percent in morning trading on the Nasdaq.
The deal comes just after Pfizer's animal health subsidiary Zoetis, raised a massive $2.2 billion during its IPO on Thursday.
Source: Reuters
Featured Articles
NTT and medical technology company Olympus put on a demonstration, showing the IOWN APN's low-latency capability, for the first cloud endoscopy system
Richter BioLogics GmbH & Co KG's a new biopharmaceutical GMP facility in Germany will boost production capabilities and local employment
A pilot study from GE Healthcare has shown the value of Portrait Mobile Continuous Monitoring Solution, a leap in post-surgical monitoring efficiency