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Pfizer ties up with Brazilian generics firm

Pfizer has signed a deal with the Brazilian generics company Laboratorio Teuto Brasileiro to develop and commercialise generic medicines

Pfizer has signed a deal with the Brazilian generics company Laboratorio Teuto Brasileiro under which the two firms will partner on developing and commercialising generic medicines. 

Pfizer will make an upfront payment of about $240m, as well as possible performance-based milestone payments.  The US company will take a 40 per cent share in Laboratorio Teuto Brasileiro and will have the option to acquire the remaining 60 per cent of Teuto's shares beginning in 2014.  The current deal gives Pfizer two directors on the Brazilian firm's board.

The agreement allows Pfizer to register and commercialise Teuto's approximately 250 generic products in Brazil and various other markets. Pfizer may sell the products under its own brands, including as branded and unbranded generics. The products address a range of therapeutic areas, including pain and inflammation, cardiovascular, anti-infectives, central nervous system and respiratory.

"Through this partnership, Pfizer will have access to significant distribution networks in rural and suburban areas in Brazil and the opportunity to register and commercialize Teuto's products in various markets outside Brazil," Pfizer said.

The alliance gives the Brazilian firm access to select Pfizer products for distribution through its network, as well as the right to commercialise the products under its own brand in Brazil.

21st October 2010

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