Perrigo, a US pharmaceutical company, bought Irish biotechnology company el for us $8.6 billion

July 29, 2013 / Biovalley bio / - according to the latest report of the Wall Street Journal on July 29, Perrigo, a US pharmaceutical manufacturer, agreed to buy elan, an Irish biotech company, for $8.6 billion The company is a manufacturer of cold medicine, allergy medicine and infant formula milk powder The acquisition, which also includes Wal Mart and Walgreens, will use a combination of cash and stock to buy Yilong shares for $16.50 a share The $16.50 purchase price is 10.5% higher than Elan's closing price on Friday Recently, part of the motivation for transactions in the pharmaceutical sector has been tax driven Recent merger and acquisition records of the company According to sina finance, Perrigo acquired Rosemont in February for us $283 million in cash to acquire Rosemont's business in oral liquid preparations Perrigo bought velcera, a privately held company, for $160 million in the previous 10 days, the second in four months Last September, the company also acquired sergeant's pet care products for $285 million.