Strategic move enhances Teva’s presence in Mexico, the second largest market in Latin America and a major emerging market
Teva has entered into a definitive agreement to acquire Representaciones e Investigaciones Médicas (Rimsa), a leading pharmaceutical manufacturing and distribution company in Mexico, along with a portfolio of products and companies, intellectual property, assets and pharmaceutical patents in Latin America and Europe in a debt-free, cash-free set of transactions, for an aggregate of US$2.3bn.
Teva expects the deal to yield substantial and achievable synergies and offer a platform for growth in the region.
‘This acquisition delivers on our strategy of increasing our presence in key emerging markets to position Teva for long-term growth. 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,’ said Erez Vigodman, President and CEO of Teva.
‘We share Teva’s focus on providing quality healthcare and we are excited to become a part of Teva and meet the needs of a population of 120 million,’ said Luis Jorge Pérez Juárez, CEO of Rimsa.
‘In addition to a unique portfolio of patent-protected products, Rimsa differentiates itself as a leading provider of branded specialty drugs, including fixed-dose combinations, which increase adherence and reduce overall costs to patients,’ stated Siggi Olafsson, President and CEO of Teva Global Generic Medicines.
Teva's board of directors unanimously approved the acquisition and the company expects to complete transactions during the first quarter of 2016.