The FINANCIAL — Teva Pharmaceutical Industries Ltd. on March 3 announced that it has successfully completed the acquisition of Representaciones e Investigaciones Médicas, S.A. de C.V. (Rimsa), one of the leading pharmaceutical manufacturing and distribution companies in Mexico, together with a portfolio of products and companies, intellectual property, assets and pharmaceutical patents in Latin America and Europe in a set of transactions for an aggregate of $2.3 billion.
With the completion of the acquisition, Teva is now one of the leading pharmaceutical companies in Mexico, the second largest market in Latin America and one of the top five emerging markets globally, according to Teva.
“This acquisition delivers on our strategy of increasing our presence in key emerging markets and offers a platform for further growth in the region. Rimsa will provide Teva with a strong brand, unique portfolio of patent-protected products, a promising pipeline and significant relationships with patients, physicians and other healthcare providers,” said Erez Vigodman, President and CEO of Teva. “We have a clear responsibility to turn those strengths into meaningful results for patients, customers and the communities we serve, as well as for our shareholders.”
Rimsa has had annual growth, year-over-year of 10.6% since 2011. The company has an extensive portfolio of patent-protected products, including fixed-dose combination products which have fueled its growth.
“With the combination of Teva and Rimsa, we now have a strong presence in the market with operational and commercial capacity that favors rapid market penetration and which allows us to provide a broad competitive portfolio as well as new treatment options through differentiated products,” said Siggi Olafsson, President and CEO of Teva Global Generic Medicines. “Building on Rimsa’s strong brand reputation and well-established commercial footprint, together, we will now be able provide a world-class offering of specialty and generic Teva medicines to patients in Mexico and across the region.”
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