Friday, February 12, 2016


Name-brand flea-fighter buys generic Yardley rival for $160M

Perrigo pays 2.7x revenues for PetArmor maker Velcera

Name-brand flea-fighter buys generic Yardley rival for $160M


Perrigo Co., the Michigan-based animal pharma company which recently acquired Sergeant's Pet Care,, says it has agreed to pay $160 million to buy Yardley-based generic over-the-counter pet drugmaker Velcera Inc., which markets PetArmor flea and tick products.

The price is a rich 2.7x Velcera's $60 million in sales last year, which typically implies rapid growth, or a desire to forestall potential competitors.

"Velcera's product mix represents a natural extension to the Sergeant's portfolio we acquired last October," Perrigo boss Joseph Papa said in a statement. Velcera raised $33 million in a 2007 stock sale. It has been trading, like its products, over-the-counter.

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PhillyDeals posts interviews, drafts and updates that Joseph N. DiStefano writes alongside his Sunday and Monday columns and ongoing articles about Philadelphia-area business.

DiStefano studied economics, history and a little engineering at Penn. He taught writing and research at St. Joe’s. He has written for the Inquirer since 1989, except when he left a few times to work at Bloomberg and elsewhere. He wrote the book Comcasted, and raised six kids with his wife, who is a saint.

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