DECN- Perrigo would be a perfect fit to make a deal with because this is what they do, license products from other companies then undercut the full retail price products from other companies. I read some time back that Perrigo had made a deal around 2013 to license test strips and that deal I believe ends in 2018 so it would be a good fit.
As far as a buyout Perrigo could do that instead of a supply deal and would not be the first time that they have bought companies for there products. I would think that DECN is worth more to JNJ or a would be buyer of JNJ's diabetes unit than anyone else. JNJ could eliminate a potential payment of an unknown amount in damages and at the same time remove the main competition to there cash cow strip business.