Sanofi continues Latin American swing
This article was originally published in The Tan Sheet
Executive Summary
Sanofi-Aventis acquires Brazilian generic drug maker Medley, which it values at 500 million Euros ($662.3 million by April 10 conversion rates). The addition of Medley's 127 generic products, including OTC drugs, will make Sanofi the No. 1 pharma company in Brazil, with 12 percent market share, the Paris-based firm said in an April 9 release. Medley's 2008 sales reached $202.7 million. Sanofi added it expects Brazil's generics market to grow 20 percent annually in the coming years. The firm reached into Brazil a week after acquiring Mexican generics firm Laboratorios Kendrick (1"The Tan Sheet" April 6, 2009, In Brief)