Perrigo acquires JB Labs
ALLEGAN, Mich. Perrigo announced Tuesday that it had acquired JB Laboratories, a Holland, Mich.-based manufacturer of over-the-counter and nutrition products for healthcare suppliers.
The acquisition, for which Perrigo paid about $44 million in cash, is expected to add more than $70 million to annual sales.
“The acquisition of JB Laboratories will further expand our high-quality manufacturing base and provide additional FDA-approved production capacity to help us service our current and future customer needs,” Perrigo chairman and chief executive officer Joseph Papa said. “And in addition to the immediate top-line sales contribution, this investment will be accretive to earnings this year and beyond.”
Perrigo gets exclusive U.S. rights for generic Xyzal
ALLEGAN, Mich. Perrigo last week acquired the exclusive U.S. rights to sell and distribute levocetirizine tablets, the generic version of UCB’s Xyzal tablets, from Synthon Pharmaceuticals.
“This is a prime example of Perrigo’s strategic focus on introducing new products which will make quality healthcare more affordable to American consumers,” stated Perrigo chairman and chief executive officer Joe Papa. “Given Perrigo’s unique model of leadership in both over-the-counter and generic prescription businesses, we can leverage this first to file opportunity whether the brand product stays behind the pharmacy counter or if it switches to an over-the-counter status, a likely scenario.”
Xycal is a prescription-only remedy for the treatment of indoor and outdoor allergies, with annualized sales of $200 million on growth of 15 percent per year, Perrigo stated, citing figures from Wolters, Kluwer.
Synthon and UCB are currently engaged in litigation over Synthon’s abbreviated-new-drug-application filing of levocetirizine, Perrigo noted in its press release.
Walgreens to carry Neptune’s omega-3-heavy Schiff MegaRed
LAVAL, Quebec Neptune Technologies & Bioressources on Monday reported that its distributor Schiff Nutrition has launched Schiff MegaRed containing Neptune Krill Oil in Walgreens.
“We continue to execute on our expansion strategy to seek strong penetration in mass retail channels, and now with distribution in Costco and Walgreens, the consumer mass market represents a fast growing sales segment for Neptune driven by brand recognition and consumer acceptance,” stated Thierry Houillon, Neptune’s vice president of nutraceuticals. “Premium products within the worldwide marine omega-3 market such as Neptune Krill Oil are gaining major market share driven by consumer demand for natural health and wellness products with proven therapeutic benefits,” he said, noting that the high-end omega-3 market is growing at an annual rate of between 20 and 30 percent.