Lannett to be acquired

William Farber, the majority shareholder and chief executive of the Lannett Co., a Philadelphia-based generic drug manufacturer, has agreed to sell his majority stock interest to Perrigo Co. for just under $200 million.

Based in Allegan, Mich., Perrigo is one of the country's largest makers of over-thecounter pharmaceutical and nutritional products.

"This potential acquisition is consistent with our previously announced strategy to enter the generic prescription drug market," said David T. Gibbons, the company's chairman and CEO, in a statement released Friday.

Perrigo's inventory of products include analgesics, cough and cold remedies, gastrointestinal and feminine hygiene products, vitamins, nutritional supplements and nutritional drinks.

Farber, 72,...