Richter further expands female healthcare franchise in Latin America
Establishes direct presence in pharmaceutical market in Mexico
Hungarian pharmaceutical firm Gedeon Richter has signed an agreement with the owner of its Mexican marketing partner, DNA Pharmaceuticals, to establish its direct presence in the pharmaceutical market in Mexico.
Under the terms of the agreement Richter will take an initial 70% majority stake in DNA and will acquire the remaining 30% stake in the next three years. Subsequent to the signature of the agreement the joint venture will be renamed Gedeon Richter Mexico.
The targeted activities of DNA include the registration of speciality products belonging to the Female Healthcare product portfolio, focusing primarily on Esmya, a treatment for uterine fibroids, and the establishment of a related sales network.
‘Subsequent to the recently announced acquisition in Brazil, this cooperation with DNA is considered to be another strategic move aimed towards the diversification of Richter’s geographic presence in Latin America, one of the regions with fastest growing pharmaceutical markets worldwide,' said Erik Bogsch, Managing Director of Richter.
