Perrigo buys full control of Cobrek Pharma for about $45 million
US drugmaker Perrigo (Nasdaq: PRGO; TASE) announced on Friday that it has signed a definitive merger agreement and has completed the acquisition of Cobrek Pharmaceuticals, a privately-held, Chicago, Illinois-based drug development company, for around $45 million on a cash free and debt free basis.
The deal solidifies Perrigo's leadership position in topical foam-based generic prescription pharmaceuticals, and concludes four+ year collaborative partnership responsible for successful launches of generic versions of Evoclin (clindamycin phosphate) Foam 1% and Extina (ketoconazole) Foam 2%, the company said.
Initial 18.5% stake acquired in 2008
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