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Private label pharmaceuticals manufacturer Perrigo Co. signed a definitive agreement Jan. 9 to acquire the assets of CanAm Care, an Alpharetta, Ga.-based supplier of diabetes care products. The Allegan, Mich.-based company's acquisition of CanAm Care helps Perrigo position itself as a leader of a growing trend, according to Neil Stern, senior partner for McMillan Doolittle.
“Diabetes care is going to grow, and this allows them participation and leadership in the private label category,” says Stern. The rising demand for diabetes care results from the growing
“The Center for Disease Control estimates that one in three Americans will develop diabetes in their lifetime.” Joseph C. Papa, chairman and CEO of Perrigo, says in a prepared statement. “Given the strong patient demand for high quality and value in the overall diabetes care market, we are very
pleased to have completed this deal with CanAm Care.”
The acquisition of CanAm Care also makes Perrigo the only full-line private label supplier of diabetes care products, according to Papa.
Perrigo's new assets include Dex4(r) hypoglycemia products (tabs, liquids and gels), insulin delivery syringes and pen needles, lancing, wound care, and compression stockings. The company expects that the acquisition will bring an additional $1.5 billion in sales to the company.