Teva to Acquire Rimsa

Teva Pharmaceutical Industries has entered a definitive agreement to acquire Representaciones e Investigaciones Médicas, S.A. de C.V. (Rimsa), a pharmaceutical manufacturing and distribution company in Mexico, along with a portfolio of products, assets, and companies in Latin America and Europe, for $2.3 billion.
 
Rimsa had $227 million in revenues in 2014 with an annual growth of 11%. The company has an extensive portfolio of specialty products, including fixed-dose combination products.
 
Teva will become a leading pharma company in Mexico, and the second largest market in Latin America. The transaction is expected to close by 1Q16.
 
“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,” said Erez Vigodman, president and chief executive officer 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.”
 
“For 45 years, Rimsa has operated as a leading pharmaceutical company in Mexico, the second largest healthcare market in Latin America, with a high growth, unique and diversified business model. We share Teva’s focus on providing quality healthcare and we are excited to become a part of Teva in meeting the needs of a population of 120 million,” said Luis Jorge Pérez Juárez, chief executive officer of Rimsa.”