Perrigo acquires Mexico's Lab Diba for $25M

US drugmaker Perrigo says that it has acquired Laboratorios Diba SA for around $25.0 million in cash. Based in Guadalajara, Mexico, privately-held Diba is a store-brand manufacturer of over-the-counter and prescription pharmaceuticals, including antibiotics, hormonals and ophthalmics. The purchase is expected to add nearly $15.0 million of annual sales for the US firm.

Perrigo's chief executive, Joseph Papa, stated: "Perrigo has been in the Mexican market for more than 65 years and is the leading supplier of prescription and OTC store-brand products there. The acquisition of Laboratorios Diba will enable us to market an additional 150 formulas and 50 trade marks into the rapidly growing Mexican store-brand market, saving consumers money on their health care options. This further exemplifies Perrigo's commitment to meeting the growing need for quality, affordable health care around the world."