Teva acquires Mexican drugmaker Rimsa

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Teva acquires Mexican drugmaker Rimsa

Home/Pharma News | Posted 16/10/2015 0 Post your comment

Israeli generics giant Teva Pharmaceutical Industries (Teva) is expanding its presence in emerging markets with its acquisition of Mexico-based Representaciones e Investigaciones Medicas SA de CV (Rimsa), a specialty drugmaker with a portfolio of products and patents across Latin America.

The US$2.3 billion purchase is expected to be finalized by the first quarter of 2016 and will make Teva a leading pharmaceutical player in Mexico, the second largest market in the region and one of the top five emerging markets globally.

Teva President and CEO Erez Vigodman said the deal ‘delivers on our strategy of increasing our presence in key emerging markets in order to position Teva for long-term growth’. He added that ‘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.’

Teva will also use Rimsa’s well-established sales presence to introduce Teva’s brand-name and generic medicines in Mexico and Latin America. Rimsa had 2014 sales of US$227 million, with annual growth of 10.6% since 2011.

This is Teva’s third major acquisition so far during 2015. The drugmaker paid US$40.5 billion for Allergan’s generics division. A deal that is also expected to be finalized in the first quarter of 2016. Teva also announced in March 2015 that it would buy US biopharmaceutical company Auspex Pharmaceuticals (Auspex) for US$3.5 billion [1].

Reference
1. GaBI Online - Generics and Biosimilars Initiative. Teva to buy Auspex Pharma, reinforcing CNS portfolio [www.gabionline.net]. Mol, Belgium: Pro Pharma Communications International; [cited 2015 Oct 16]. Available from: www.gabionline.net/Pharma-News/Teva-to-buy-Auspex-Pharma-reinforcing-CNS-portfolio

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Source: Teva