Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) has expressed interest in acquiring Mexican generic pharmaceutical manufacturer Representaciones e Investigaciones Medicas SA, known as Rimsa, "Bloomberg" reports. The Mexico city-based company has also attracted interest from Sanofi, Pfizer Inc., Abbott Laboratories, and Takeda Pharmaceuticvals, 'people with knowledge on the matter" told "Bloomberg." Those same sources said that Goldman Sachs is managing the sale of Rimsa, which is worth about $1 billion.
Teva and Goldman Sachs declined to comment on the report as did the other major pharmaceutical companies linked to the story.
"Bloomberg" said, "Foreign companies and investors have been pursuing transactions in Mexico’s fragmented generic-drug industry. They are seeking to gain exposure to a market where relatively low rates of health-care spending are projected to rise to converge with other emerging markets, including Brazil and Chile. Last year, Endo International Plc bought Mexico City-based Grupo Farmaceutico Somar, while private-equity firm General Atlantic LLC acquired a minority stake in Laboratorios Sanfer."
Teva has been spending big so far this year. In July Teva acquired the generic division of Allergan plc for $40.5 billion and in March Teva acquired Auspex Pharmaceuticals for $3.2 billion. These were Teva's biggest acquisitions since Cephalon in 2011 for $6.8 billion.
Published by Globes [online], Israel business news - www.globes-online.com - on September 19, 2015
© Copyright of Globes Publisher Itonut (1983) Ltd. 2015