PetArmor maker sold for $160 million

Posted: February 02, 2013

Velcera Inc., a Yardley-based maker of over-the-counter animal health-care products, will be acquired by Perrigo Co. for $160 million in cash, or 40 cents per share.

Velcera markets its products under the name FidoPharm, including its PetArmor flea and tick preventive products. Allegan, Mich.-based Perrigo said that Velcera had 2012 sales of about $60 million.

Perrigo, one of the largest manufacturers of store brands of OTC pharmaceutical products and infant formulas, reported sales of $3.17 billion for its fiscal year ended June 30.

Perrigo shares rose $5.49 or 5.5 percent to $106.00 in early afternoon trading.    - Mike Armstrong

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