Sterling Drug will buy a home-care products firm.

Sterling, a pharmaceuticals and consumer products company based in New York, will pay $66 million for Formby’s, which produces and markets specialty products for the do-it-yourself segment of the home-improvement market. Its retail line includes wood-care products sold under the Homer Formby’s brand and used primarily in refinishing previously treated wood surfaces, Thompson’s brand waterproofing and weatherproofing products, and Tri-Flow high-performance lubricant sold through specialty sporting outlets. Formby’s, a unit of Richardson-Vicks, has annual sales in the neighborhood of $50 million.