Perrigo to buy Paddock for $540 million
Perrigo, an Allegan, Mich.-based company that makes generic prescription and over-the-counter drugs, including private-label products, announced that it would buy Minneapolis-based Paddock for $540 million in cash.
In response to the growing demand for over-the-counter drugs, Perrigo Co. is spending $25 million to expand its manufacturing facilities in Allegan.