Perrigo Co. plc (NYSE: PRGO) is adding generic forms of Retin-A, often prescribed as an anti-aging or acne-treatment skin cream, from Matawan Pharmaceuticals LLC for an undisclosed amount.
The Retin-A treatment had $287 million in sales for the 12 months ending October 2015. The seller is a subsidiary of Rouses Point Pharmaceuticals LLC, a Bonita Springs, Florida-based generics business.
Perrigo, headquartered in Dublin, Ireland, focuses on over-the-counter consumer goods and pharmaceuticals. The company has recently zoned in on acquisitions of generic pharmaceuticals, including Entocort, which it agreed to buy from AstraZeneca plc (LON: AZN) for $380 million in November.
The company fended off a takeover offer from generics giant Mylan NV earlier this year, saying the bid undervalued the business.
Skincare businesses have drawn in buyer interest recently. Unilever (NYSE: UL) has made a handful of acquisitions, including Murad, Dermalogica and Kate Somerville Skincare. Cosmetics giant Estee Lauder (NYSE: EL) has also been active in the space and acquired a stake in Korean skincare company Have & Be Co. in October.
In the pharmaceutical space, generics have also attracted interest from acquirers. Cardinal Health Inc. agreed to buy the Harvard Drug Group to increase distribution of generic drugs in June, and Teva agreed to buy Mexican drugmaker Representaciones e Investigaciones Medicas SA. And in November, Takeda Pharmaceuticals Co. partnered with Teva Pharmaceutical Industries Ltd. to sell generic drugs in Japan.