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Sanofi-aventis to acquire Medley

Sanofi-aventis has signed an agreement to acquire Brazilian generics drug manufacturer Medley in a deal that values the company at €500m

Sanofi-aventis has signed an agreement to acquire Brazilian generics drug manufacturer Medley in a deal that values the company at €500m.

The transaction comes on the heels of the French company's purchase of Mexican generics drug maker Laboratorios Kendrick for an undisclosed amount earlier this year and its purchase of Czech generics maker Zentiva.

It will allow sanofi-aventis to "build-up on growth platforms, accelerate sales and further extend its pharmaceutical portfolio in emerging markets," a spokesperson said. And "reinforce [sanofi-aventis'] number one ranking among pharmaceutical companies in Brazil, with a total 12 per cent market share."

Sanofi-aventis is a market leader in the antithrombic area and its anticlotting drugs Lovenox and Plavix are predicted to be major growth drivers to 2012, when the group's maturing product portfolio will face generic competition.

Medley is the third largest pharmaceutical company and the number one generic company in Brazil. In 2008, its sales amounted to 458 million Brazilian reais, around €153m, with generics counting for two thirds of that.

With a generics portfolio of 127 products, Medley is very well positioned to benefit from the growth of the Brazilian generics market, which is expected to remain over 20 per cent per year in coming years.

14th April 2009

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