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, 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.