Perrigo acquires Agis Industries

The Perrigo Company, the world's largest manufacturer of OTC pharmaceuticals and nutritional products (based in Allegan, Michigan), has completed its acquisition of Agis Industries, a developer and manufacturer of specialized generic pharmaceuticals and active pharmaceutical ingredients (API). Agis is the second-largest pharmaceutical company in Israel.

The combination of Perrigo and Agis has created a global company with a track record of sales and earnings growth, and broader capabilities to grow in the global generics pharmaceutical, API and consumer healthcare markets.

The combined company offers numerous strategic and financial benefits, including: a platform for growth in generic pharmaceuticals through Agis' position in topical generics; an established position in API; an enhanced market-leading store brand OTC product portfolio, with significant opportunity to leverage Agis' OTC products through Perrigo's infrastructure; and a highly experienced, global management team.

'The joining of Perrigo and Agis has brought together talent, technology and exciting new growth opportunities,' said David T. Gibbons, chairman, president and ceo, Perrigo. 'This transaction has combined Perrigo's leadership in store brand OTC pharmaceutical and nutritional products, outstanding customer relationships and distribution network, with Agis' growing position in topical generics and their strong pharmaceutical ingredient business. Together, we also have excellent r&d, and an experienced global management team.'

In connection with the acquisition, Mori Arkin, formerly chairman of Agis, has become vice chairman of the board of directors at Perrigo.