Perrigo drug firm buyout likley

US-based Mylan yesterday offered to buy fellow drugmaker Perrigo whose headquarters are in Dublin for $28.9bn (€26.73bn), a deal that would create a powerhouse for generic medicine.

Mylan, which makes about 1,400 medications, offered $205 a share in cash and stock for Perrigo, according to a statement.

That represents a 25% premium over Tuesday’s closing price for Perrigo, which makes a range of products including skin gels, injectables and nasal sprays.