Sanofi continues Latin American swing
This article was originally published in The Tan Sheet
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)
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The Paris-based firm acquires Laboratorios Kendrick and plans to fold the generics firm into its existing Mexican generics business. The April 2 deal gives Sanofi more than 50 active pharmaceutical ingredients in Kendrick's portfolio, including the antihistamine loratadine. Kendrick's sales reached around 500 million pesos in 2008. Sanofi also expanded its global OTC business with the recent acquisition of Czech firm Zentiva (1"The Tan Sheet" Feb. 16, 2009, p. 6)
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