Perrigo Co. (Nasdaq: PRGO) has completed its acquisition of Cobrek Pharmaceuticals Inc., a Chicago drug-development company, for $45 million in cash.

The buyer already held an 18.5 percent stake in Cobrek, which it purchased in May 2008.

Rolling Meadows, Ill.- based Cobrek has two U.S. Food and Drug Administration-approved products that will be launched in 2013.  The company’s new products are generic versions of Luxiq Foam and Olux-E Foam, which help with skin itchiness.

Perrigo, headquartered in Allegan, Mich., develops products, such as Aller-Ease, Nicotine Gum and Clear Lax.

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