 "Teva Pharma acquires Mexican firm Rimsa for $2.3 bn")
In a move that will accelerate its emerging markets growth strategy, Israel-based Teva Pharmaceutical Industries Ltd has acquired Representaciones e Investigaciones Medicas SA de CV (Rimsa), a leading independent pharmaceutical company in Mexico, for $ 2.3 billion. Through this acquisition, announced on October 1, 2015, Teva will become a leading pharmaceutical company in Mexico, the second largest market in Latin America and one of the top five emerging markets globally. Teva expects the deal will 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 in order to position Teva for long-term growth in these markets. 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.
Rimsa had revenue in 2014 of $ 227 million with an annual growth, year over year of 10.6% since 2011. The company has an extensive portfolio of specialty products, including fixed-dose combination products which have fuelled its growth. Rimsa’s well-established sales footprint is expected to provide a platform for additional Teva products.
“In addition to this 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.
“This acquisition delivers on our strategy of increasing our presence in key emerging markets in order to position Teva for long-term growth in these markets. 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.
Rimsa had revenue in 2014 of $ 227 million with an annual growth, year over year of 10.6% since 2011. The company has an extensive portfolio of specialty products, including fixed-dose combination products which have fuelled its growth. Rimsa’s well-established sales footprint is expected to provide a platform for additional Teva products.
“In addition to this 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.