Perrigo Bets On Mexican Private Label Growth With Laboratorios Diba Buy
This article was originally published in The Tan Sheet
Perrigo is betting the Mexican store-brand market will grow the way private label did in the U.S. 20 years ago, with its $25 million acquisition of Laboratorios Diba
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Perrigo's pending $49 million acquisition of Orion Laboratories marks the private labeler's entrance into the promising Australian OTC market and adds a "beachhead" for the firm's continued global expansion, analysts say
Perrigo names VPs: Ron Schutt becomes VP of OTC marketing and Ray Canole VP of corporate development, the Allegan, Mich.-based private-labeler says Feb. 23. Schutt worked for Perrigo for 15 years, most recently as director of marketing for Perrigo's U.S. OTC business. He also served as an analyst with Perrigo's international marketing, pharmaceutical business development and consumer healthcare marketing. Canole joined Perrigo in 2002 as a business development analyst and worked most recently as the senior director of corporate and business development where he managed the acquisitions of JB Labs, Unico and Diba (1"The Tan Sheet" Oct. 13, 2008, p. 3)
Record OTC drug sales helped boost Perrigo's revenue 29 percent in its latest earnings period, but the rising costs of doing business dragged down margins and forced the company to lower its fiscal 2009 earnings guidance