Dublin-headquartered Perrigo buys Geiss, Destin & Dunn

Over-the-counter drug company buys US healthcare distributor for undisclosed sum

Perrigo said the deal would further strengthen its US distribution business

Perrigo said the deal would further strengthen its US distribution business

 

Perrigo, the Irish domiciled over-the-counter drug company, has acquired US healthcare distributor Geiss, Destin & Dunn for an undisclosed sum. The transaction is expected to close by the end of August, Perrigo said.

Geiss, Destin & Dunn is a Georgia-based distributor which sells products to wholesalers and retailers across the US.

Perrigo, which earlier this month slashed its full-year earnings forecast for a second time, said the deal, while relatively small in transaction value, would further strengthen its US distribution business.

Perrigo successfully fought off a $26 billion (€23bn) hostile takeover attempt from Mylan last year.

The company, which has a market capitalisation of over $13 billion, relocated to Ireland after completing the acquisition of Elan for $8.6 billion in 2013.