Please login to the form below

Not currently logged in
Email:
Password:

TEVA buys Mexico’s RIMSA for $2.3bn

Follows acquisition ofAllergan’s generic drugs business
TEVA

TEVA has bought Mexican drug manufacturer Representaciones e Investigaciones Médicas SA (RIMSA) for $2.3bn.

The acquisition comes a few months after the Israeli-based firm agreed to buy Allergan's generics for $40.5bn, further consolidating its position as the world's number one generic drug manufacturer.

Erez Vigodman, president and CEO of TEVA, said: “This acquisition delivers on our strategy of increasing our presence in key emerging markets in order to position TEVA for long-term growth.

“Rimsa will provide… 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.”

Rimsa had revenue of $227m in 2014 with annual growth rate of over 10.6% since 2011 and TEVA expects the deal to close in early 2016.

Luis Jorge Pérez Juarez, CEO of Rimsa, said: “We share TEVA's focus on providing quality healthcare and we are excited to be a part of TEVA in meeting the needs of a population of 120m.”

In August, TEVA also bought a 51% share in Immuneering, a genomic analysis company, as part of a drive to develop personalised medicines for central nervous system diseases.

TEVA's acquisition of Allergan involved the Israeli firm paying $33.8bn in cash as well as shares of TEVA, valued at $6.8bn. The purchase meant TEVA's long-term pursuit of generics company Mylan was ended as it fought to stop takeover.

According to GlobalData, Mexico's healthcare market value will be worth approximately $28bn by 2020, growing from $17.6bn in 2013. 

TEVA's annual revenue in 2014 was $18.3bn and it currently has a programme in place to reduce expenses by $1.3bn by the end of 2017. 

Article by
Nikhil Patel

2nd October 2015

From: Sales

Share

Tags

Featured jobs

Subscribe to our email news alerts

PMHub

Add my company
Cello Health

Cello Health’s mission is to help our clients unlock the potential that exists with their assets, brands and organisations in...

Latest intelligence

It’s all about patient outcomes… right?
Lessons from history: a design thinking perspective...
Emma Walmsley 2
30 Women Leaders in UK Healthcare (part 3)
Continuing our special feature on Women Leaders in UK Healthcare...
Louise Houson
30 Women Leaders in UK Healthcare
The enormous challenges facing UK healthcare mean it needs great leaders. PME’s Group Editor Andrew McConaghie introduces 30 outstanding innovators and trailblazers helping to shape the future...

Infographics