Teva Pharmaceutical to buy Mexican Drugmaker
Advertisement
In order to strengthen its presence in North America region, Teva Pharmaceutical Industries has reportedly closed a deal to buy Mexican drugmaker Representaciones e Investigaciones Medicas SA (Rimsa); valued at $2.3 billion.
Teva currently has a small presence in the country, but with the Rimsa deal, it is all set to be come a leading pharma company in Mexico. Mexico is reported to be the second-largest market in Latin America and one of the top five emerging markets globally. The Mexican drugmaker had revenue of $227 million in 2014, with an annual growth rate of 10.6 percent since 2011.
This deal follows Teva's earlier acquisition for $40.5 billion in cash and stock for Allergan's generics drug business. This is a second major acquisition by the compan in recent months to solidify its position as the world's No. 1 maker of generic drugs.
The Israel-based firm said it expected the deal to yield substantial cost savings. "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," said Chief Executive Erez Vigodman.
Teva currently has a small presence in the country, but with the Rimsa deal, it is all set to be come a leading pharma company in Mexico. Mexico is reported to be the second-largest market in Latin America and one of the top five emerging markets globally. The Mexican drugmaker had revenue of $227 million in 2014, with an annual growth rate of 10.6 percent since 2011.
This deal follows Teva's earlier acquisition for $40.5 billion in cash and stock for Allergan's generics drug business. This is a second major acquisition by the compan in recent months to solidify its position as the world's No. 1 maker of generic drugs.
The Israel-based firm said it expected the deal to yield substantial cost savings. "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," said Chief Executive Erez Vigodman.
Our comments section is governed by our Comments Policy . By posting comments at Medical Dialogues you automatically agree with our Comments Policy , Terms And Conditions and Privacy Policy .
Disclaimer: This website is primarily for healthcare professionals. The content here does not replace medical advice and should not be used as medical, diagnostic, endorsement, treatment, or prescription advice. Medical science evolves rapidly, and we strive to keep our information current. If you find any discrepancies, please contact us at corrections@medicaldialogues.in. Read our Correction Policy here. Nothing here should be used as a substitute for medical advice, diagnosis, or treatment. We do not endorse any healthcare advice that contradicts a physician's guidance. Use of this site is subject to our Terms of Use, Privacy Policy, and Advertisement Policy. For more details, read our Full Disclaimer here.
NOTE: Join us in combating medical misinformation. If you encounter a questionable health, medical, or medical education claim, email us at factcheck@medicaldialogues.in for evaluation.