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|October 01, 2015 8:00 a.m.|
|Teva Accelerates its Emerging Markets Growth Strategy with the Acquisition of Rimsa, a Leading Independent Pharmaceutical Company in Mexico with a Portfolio of Products and Patents in Latin America|
Strategic Move Enhances Teva’s Presence in
Brings a Portfolio of Differentiated, Patent-Protected, Fixed-Dose Medicine Combinations, Strong Brand and Commercial Presence and Loyal Customer Base
“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. "The combination of our companies lays the foundation for a leadership position and high long-term, profitable and sustainable growth in the region and further reinforces our commitment to innovation, quality and improving the health of people worldwide."
Rimsa had revenue in 2014 of
“For 45 years, Rimsa has operated as a leading pharmaceutical company in
“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
The acquisition was unanimously approved by Teva's Board of Directors,
led by the Chairman, Prof.
Teva expects to close these transactions by early first quarter, 2016. The acquisition is not expected to impact 2016 non-GAAP earnings and is expected to be accretive starting Q1 2017. The transactions will be funded through a combination of cash on hand and lines of credit.
Citi acted as financial advisor to Teva.
Rimsa is the leading independent Mexican pharmaceutical company with more than 45 years of experience in developing, producing and selling a wide range of prescription medications. The company differentiates itself as the leading provider of “combination drugs” in which a fixed-dose combination (“FDC”) that includes two or more active pharmaceutical ingredients are combined into a single dosage form, increasing adherence and reducing overall cost to patients.
Teva's Safe Harbor Statement under the
This release contains forward-looking statements, which are based on
management’s current beliefs and expectations and involve a number of
known and unknown risks and uncertainties that could cause our future
results, performance or achievements to differ significantly from the
results, performance or achievements expressed or implied by such
forward-looking statements. Important factors that could cause or
contribute to such differences include risks relating to: our ability to
achieve substantial synergies in
Teva Pharmaceutical Industries Ltd.