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The Latest Pharma Jobs, News and Events today | 04 October 2015

Teva Acquires Rimsa, a Leading Independent Pharmaceutical Company in Mexico

Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) has announced that it has entered into definitive agreements under which the Company will acquire Representaciones e Investigaciones Médicas, S.A. de C.V.(Rimsa), a leading pharmaceutical manufacturing and distribution company in Mexico, along with a portfolio of products and companies, intellectual property, assets and pharmaceutical patents in Latin America and Europe in a debt-free, cash free set of transactions, for an aggregate of $2.3 billion. Through this acquisition, Teva will become a leading pharmaceutical company in Mexico, the second largest market in Latin America and one of the top five emerging markets globally. Teva expects the deal will yield substantial and achievable synergies and offer a platform for growth in the region....

“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 $227 million with an annual growth, year over year of 10.6% since 2011. The company has an extensive portfolio of specialty products, including fixed-dose combination products which have fueled its growth. Rimsa’s well-established sales footprint is expected to provide a platform for additional Teva products.

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