Teva Buys Mexican Pharma Firm

The Israeli drugmaker is purchasing the pharmaceutical company Rimsa for $2.3 billion.

Oct 5, 2015
Bob Grant

WIKIMEDIA, RAGESOSSIn what has been a very busy year for biopharmaceutical industry mergers and acquisitions, one of the most active players on the scene, Teva Pharmaceutical Industries, has snapped up another company in a multibillion-dollar deal. Teva announced last week (October 1) that it would acquire Mexican drugmaker Representaciones e Investigaciones Médicas, S.A. de C.V. (Rimsa) for $2.3 billion. The deal will make Teva a leading pharma company in Mexico, which experts identify as one of the top five emerging markets in the world.

“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,” Teva CEO Erez Vigodman said in a statement. “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.”

Rimsa reported revenue of $227 million in 2014 and has grown by about 10.6 percent, year-over-year since 2011. The transaction is expected to be completed by early 2016.

Earlier this year, Teva bought Allergan Generics for a whopping $40.5 billion and made a failed $40 billion-dollar bid to buy Mylan Pharmaceuticals