Deal-Starved Perrigo In Exclusive Talks To Buy $5 Billion+ Omega Pharma NV
October 31, 2014
By Krystle Vermes, BioSpace.com Breaking News Staff
Ireland-based Perrigo Co. is in exclusive talks to buy Belgian-based Omega Pharma, beating out suitors including Sanofi, Actavis and Boehringer Ingelheim, reported Bloomberg Friday.
Two people who asked not to be identified told the news source that Perrigo may strike a deal soon, and Omega Pharma could reel in $5 billion from the sale. Representatives from Perrigo, Omega Pharma, Actavis and Sanofi declined to comment on the matter.
The Growth of Omega Pharma
Over the past year, Omega Pharma has shown promising growth. In August, the company reported like-for-like growth of 19.5 percent. Omega Pharma surpassed German chemical and pharmaceutical company, Bayer , as the fourth largest consumer healthcare company in the U.K.
“Taking the number four spot has always been an important milestone for us and we are delighted that the hard work, dedication and game-changing attitude of our employees and our partners has made this a reality,” said Neil Lister, general manager of the company. “We firmly believe that putting pharmacists and retailers at the center of our business has allowed us to climb from 13th position to fourth in just three years.”
Omega Pharma’s portfolio has also been credited for its growth over the past year. Some of its most successful drugs include Solpadeine, Dermalex and Lyclear. Over the next few months, the company is looking to launch a number of category firsts in the weight, cough, and sleep markets.
“This has been a record breaking six months for Omega Pharma and we are extremely proud of our 2014 performance to date,” continued Neil. “We are making significant strides towards reaching our 2017 goal to become one of the top three consumer healthcare companies in the UK and achieve our vision of making healthcare history.”
In December 2013, Perrigo made headlines for finalizing its acquisition of Elan Corporation , which totaled approximately $8.6 billion. The deal benefited Perrigo by diversifying its revenue stream and establishing a differentiated platform for further expansion.
"We are very pleased to welcome the Elan team into the Perrigo family,” said Perrigo Chairman and CEO Joseph Papa at the time of the announcement. “The combined company establishes a diversified platform that will position Perrigo well for further expansion”
Perrigo’s acquisition of Elan was one of many that it completed in 2013, and Omega Pharma may be added to the list of its 2014 deals.