Sale of Mexican Pharmaceutical Company Expected to Boost Latin American Prescription Drug Market
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By LabMedica International staff writers Posted on 11 Oct 2015 |
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The sale of a major Mexican pharmaceutical company to an international generic drug corporation is expected to accelerate the growth of the Latin American market for prescription drugs.
Teva Pharmaceutical Industries Ltd. (Petah Tikva, Israel) announced that it has entered into definitive agreements to buy Representaciones e Investigaciones Médicas, S.A. de C.V. (Rimsa; Mexico City, Mexico), a leading pharmaceutical manufacturing and distribution company in Mexico.
The acquisition, whose cost is estimated at 2.3 billion USD, will bring Teva a portfolio of products and companies, intellectual property, assets, and pharmaceutical patents in Latin America and Europe. Rimsa maintains an extensive portfolio of specialty products, including fixed-dose combination products, which have fueled its growth. The company had revenues in 2014 of 227 million USD with an annual growth, year over year of 10.6% since 2011.
Through this acquisition, Teva will become a leading pharmaceutical company in Mexico, the second largest market in Latin America and one of the top five emerging markets globally.
“This acquisition delivers on our strategy of increasing our presence in key emerging markets in order to position Teva for long-term growth in these markets. Rimsa will provide Teva with a significant platform for growth by combining the strong Rimsa brand, licensed portfolio of differentiated, patent-protected products, promising pipeline, significant relationships with physicians, patients and healthcare providers, and its strong commercial presence,” said Erez Vigodman, president and CEO of Teva. “The combination of our companies lays the foundation for a leadership position and high long-term, profitable and sustainable growth in the region and further reinforces our commitment to innovation, quality and improving the health of people worldwide.”
“For 45 years, Rimsa has operated as a leading pharmaceutical company in Mexico, the second largest healthcare market in Latin America, with a high growth, unique and diversified business model. We share Teva’s focus on providing quality healthcare and we are excited to become a part of Teva in meeting the needs of a population of 120 million,” said Luis Jorge Pérez Juárez, CEO of Rimsa.”
Related Links:
Teva Pharmaceutical Industries Ltd.
Representaciones e Investigaciones Médicas, S.A. de C.V.
Teva Pharmaceutical Industries Ltd. (Petah Tikva, Israel) announced that it has entered into definitive agreements to buy Representaciones e Investigaciones Médicas, S.A. de C.V. (Rimsa; Mexico City, Mexico), a leading pharmaceutical manufacturing and distribution company in Mexico.
The acquisition, whose cost is estimated at 2.3 billion USD, will bring Teva a portfolio of products and companies, intellectual property, assets, and pharmaceutical patents in Latin America and Europe. Rimsa maintains an extensive portfolio of specialty products, including fixed-dose combination products, which have fueled its growth. The company had revenues in 2014 of 227 million USD with an annual growth, year over year of 10.6% since 2011.
Through this acquisition, Teva will become a leading pharmaceutical company in Mexico, the second largest market in Latin America and one of the top five emerging markets globally.
“This acquisition delivers on our strategy of increasing our presence in key emerging markets in order to position Teva for long-term growth in these markets. Rimsa will provide Teva with a significant platform for growth by combining the strong Rimsa brand, licensed portfolio of differentiated, patent-protected products, promising pipeline, significant relationships with physicians, patients and healthcare providers, and its strong commercial presence,” said Erez Vigodman, president and CEO of Teva. “The combination of our companies lays the foundation for a leadership position and high long-term, profitable and sustainable growth in the region and further reinforces our commitment to innovation, quality and improving the health of people worldwide.”
“For 45 years, Rimsa has operated as a leading pharmaceutical company in Mexico, the second largest healthcare market in Latin America, with a high growth, unique and diversified business model. We share Teva’s focus on providing quality healthcare and we are excited to become a part of Teva in meeting the needs of a population of 120 million,” said Luis Jorge Pérez Juárez, CEO of Rimsa.”
Related Links:
Teva Pharmaceutical Industries Ltd.
Representaciones e Investigaciones Médicas, S.A. de C.V.
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