Valeant to acquire generics firm Tecnofarma
Valeant Pharmaceuticals International, a US manufacturer of neurology and dermatology products, is expanding into the government and private label markets by taking over Tecnofarma, a privately owned Mexican generic pharmaceuticals company with sales of US$33m.
Valeant Pharmaceuticals International, a US manufacturer of neurology and dermatology products, is expanding into the government and private label markets by taking over Tecnofarma, a privately owned Mexican generic pharmaceuticals company with sales of US$33m.
Tecnofarma has a number of manufacturing sites, including a new 15,000m2 plant that will allow Valeant Latin America to reduce its dependence upon third-party manufacturers.
The company also has 80 registered products that can be introduced into the branded generic market in Mexico.
"The government and private label markets in Mexico are large and growing components of the overall pharmaceutical industry in the region and are complementary to Valeant Mexico's current focus on the commercial branded generic market," said Michael Pearson, chairman and chief executive.
"Adding two well-established businesses to our current branded generic portfolio mix, a new pipeline of products for our branded generic business as well as a manufacturing infrastructure capable of expanding to meet future demand, we believe we are well positioned to reach our growth objectives in Latin America."
