Perrigo to acquire portfolio of OTC brands from GSK

Ireland-headquartered consumer medicines and generics firm Perrigo (NYSE: PRGO) has entered into an agreement to acquire a portfolio of well-established over-the-counter (OTC) brands from GlaxoSmithKline (LSE: GSK).

This is in connection with GSK's commitments to the European Commission and other regulators to divest these businesses in the context of the formation of a consumer health joint venture between GSK and Switzerland’s Novartis (NOVN: VX).

Perrigo, which is currently the subject of an unsolicited takeover approach from Mylan, will acquire the following assets of an all-cash transaction of which the purchase price was not disclosed.