NYSE Post
  • Home
  • Business
  • Entertainment
  • Technology
  • Research
  • Sport
  • World Media
  • Health
  • USA
No Result
View All Result
  • Home
  • Business
  • Entertainment
  • Technology
  • Research
  • Sport
  • World Media
  • Health
  • USA
No Result
View All Result
NYSE Post
No Result
View All Result
Home Health

Teva To Buy Rrimsa for About 2.3 Billion

Kevin Goodings by Kevin Goodings
11/28/2022
in Health
Reading Time: 2 mins read
0
0
SHARES
66
VIEWS
Share on FacebookShare on Twitter

TEL AVIV (Reuters) – Teva Pharmaceutical Industries has struck a deal to buy Mexican drugmaker Representaciones e Investigaciones Médicas SA (Rimsa) for $2.3 billion to strengthen its presence in Latin America.

It is Teva’s second major acquisition in recent months. In late July it agreed to pay $40.5 billion in cash and stock for Allergan’s generics drug business to solidify its position as the world’s No. 1 maker of generic drugs.

With the Rimsa deal, Teva which has a small presence in the country, will become a leading pharma company in Mexico, the second-largest market in Latin America and one of the top five emerging markets globally.

The Israel-based firm said it expected the deal to yield substantial cost savings. “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,” said Chief Executive Erez Vigodman.

Teva said Rimsa brought with it a portfolio of patent-protected specialty products, a strong brand, commercial presence and loyal customer base.

The Mexican drugmaker had revenue of $227 million in 2014, with an annual growth rate of 10.6 percent since 2011.

“(Rimsa) provides Teva a much-needed platform to advance its own portfolio into the large and growing specialty market. We view this as a great deal for Teva from a strategic standpoint,” said Nomura analyst Shibani Malhotra.

Teva’s stock was trading up 1 percent in a generally weaker New York market.

Siggi Olafsson, CEO of Teva’s global generic business, said the company would build on Rimsa’s reputation, sales force and customer base to introduce additional specialty and generic Teva medicines to patients in Mexico and across the region.

Teva, which expects the acquisition to close by early first quarter in 2016, will fund it through cash on hand and lines of credit. It is not expected to affect 2016 adjusted earnings and is expected to boost profit from the first quarter of 2017.

Previous Post

Volkswagen scandal: Govt asks ARAI to inspect India-spec models

Next Post

Rogers Committing to More 4k TV For 2016

Next Post

Rogers Committing to More 4k TV For 2016

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Federal NDP Leap Manifesto Bad Policy Alberta Environment

01/21/2025

Gay Marriage Still Illegal in Alabama Says State Chief

11/29/2022

Democrats, unions celebrate victories in Illinois primaries

11/29/2022

Donald Trump Opens Commanding Lead in New CNN Poll

11/29/2022

Calpers’ Hidden Private-Equity Fees: $3.4 Billion

11/28/2022

The House of Representatives Against Supporting

11/28/2022

Venezuela’s Maduro extends economic emergency measures

11/29/2022

Zack Greinke Wikipedia Page Says He is Owned by Ddaniel

11/27/2022

Denis Obrien To Sell Topaz To a Canadian Firm

11/29/2022

No hard landing for China, says HSBC chief Stuart Gulliver

11/29/2022

Water Bears Have Super Resistant DNA

11/29/2022

Donald Trump Opens Commanding Lead in New CNN Poll

11/29/2022

EMC Corporation (NYSE:EMC) Launches Its Much-Awaited XtremIO

11/28/2022

Federal NDP Leap Manifesto Bad Policy Alberta Environment

01/21/2025

Hell To Pay Mayor Demands Accountability For Socal Gas Leak

06/18/2023

Apple Inc. (NASDAQ:AAPL) loses overshadowed gains on Nasdaq- ADBE, AAPL, ORCL, YHOO, DELL, & MSFT

11/28/2022
logo

Our next winner could be in your inbox tomorrow!

  • About us
  • Disclaimer
  • Contact Us

Categories

  • Business
  • Entertainment
  • Health
  • Markets
  • Politics
  • Research
  • Sport
  • Technology
  • USA
  • World Media

Recent News

Chuck Hagel gets grilled by Republicans in Senate hearing

11/28/2022

Trump, still not conceding defeat, hails vaccine progress

11/28/2022

© 2007-2025 All rights reserved - NysePost.com

No Result
View All Result
  • Home

© 2007-2025 All rights reserved - NysePost.com

Go to mobile version