Morgan Lewis Reps Perrigo In $540M Paddock Labs Buy

Law360, New York (January 20, 2011, 11:56 AM EST) -- Generic-drug and baby formula maker Perrigo Co. has agreed to shell out $540 million in cash for the assets of privately held generics company Paddock Laboratories Inc. as part of a larger effort to expand its drug portfolio.

Perrigo unveiled the deal Thursday, saying it expects to take home a hefty tax benefit of about $95 million from the purchase and predicting the transaction will add more than $200 million in sales during the first full fiscal year.

The deal is slated to close during the...
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