Mylan's current acquisition target Perrigo announced it is buying German pharmacy company, Naturwohl Pharma.
Perrigo did not disclose terms of the deal for Naturwohl and its leading German dietary supplement brand, Yokebe. The transaction has been approved by the boards of both companies.
Perrigo CEO Joseph Papa anticipates the deal will help Perrigo capture a greater share of the $30 billion European over-the-counter market.
Caught in a takeover triangle, Perrigo rejected an unsolicited takeover bid from Mylan in late April, about the same time Mylan rejected an offer of $40 billion from Teva.
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