The Ireland-based company Perrigo, the world’s largest manufacturer of OTC products and supplier of infant formulas, has announced a deal through which it will acquire well-known OTC brands from GSK.
The acquisitions include the NiQuitin nicotine replacement therapy (NRT) business, primarily in the European Economic Area (EEA) and Brazil; Novartis’s legacy Australian NRT business, including the Nicotinell brand; several assorted OTC brands including Coldrex across the EEA, and Panodil, Nezeril, and Nasin in Sweden; and Novartis’s legacy cold sore management products primarily in the EEA, marketed under the brand names Vectavir, Pencivir, Fenivir, Fenlips and Vectatone.
This deal is described as a collateral consequence of the recent health joint venture between GSK and Novartis International AG, as in order to comply with European Legislation, GSK was made to part with this branch of business.
Perrigo Chairman, President and CEO Joseph C. Papa commented: “This acquisition demonstrates Perrigo’s ability to execute on our ‘Base Plus Plus Plus’ strategy, in which we make selective, accretive transactions to expand our durable base business. We are building on the global platform we established with the Omega Pharma acquisition to capture an even greater share of the $30 billion European OTC market opportunity with several well-established, complementary brands that bolster our OTC product portfolio”.