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Abbott to buy Russian generics firm Posted 04/07/2014

US-based pharma company Abbott Laboratories (Abbott) announced on 23 June 2014 that it had signed a definitive agreement to acquire Russian generics maker Veropharm.

The deal will see Abbott pay between US$395 and US$495 million for one of the leading generics makers in Russia. The purchase is expected to expand Abbott’s worldwide drug manufacturing capabilities and strengthen its commitment to Russia, where it has had a presence for 40 years.

The acquisition will give Abbott access to a portfolio of medicines that is well aligned with its current pharmaceutical therapeutic areas of focus in women’s health, central nervous system, cardiovascular and gastroenterology, while also adding an offering in the field of oncology.

Abbott has been rapidly expanding its generics portfolio, as well as its presence around the globe. The healthcare major expanded its presence in Latin America with the purchase of CFR Pharmaceuticals in May 2014 [1]. While back in 2010 the company bought the domestic unit of Piramal Healthcare, one of India’s biggest generics makers [2].

References
1. GaBI Online - Generics and Biosimilars Initiative. Abbott expands generics business in Latin America [www.gabionline.net]. Mol, Belgium: Pro Pharma Communications International; [cited 2014 Jul 4]. Available from: www.gabionline.net/Pharma-News/Abbott-expands-generics-business-in-Latin-America
2. GaBI Online - Generics and Biosimilars Initiative. Abbott acquires Indian generics’ maker Piramal Healthcare [www.gabionline.net]. Mol, Belgium: Pro Pharma Communications International; [cited 2014 Jul 4]. Available from: www.gabionline.net/Pharma-News/Abbott-acquires-Indian-generics-maker-Piramal-Healthcare

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Source: Abbott

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