Eurofarma Sanofi factory purchase Brazilian in Argentina

Eurofarma, Brazilian multinational pharmaceutical, took another step in its internationalization, with the purchase this month of French laboratory Sanofi factory in Argentina. The value of the acquisition was not disclosed, but according to the Argentine site specializing in information about the industry, Pharmabiz, the operation would involve disbursement of $ 18 million and an agreement of production outsourced to Sanofi, which itself has manufacturing units in the country.
In brief statement, Eurofarma has confirmed the deal and said that the factory, in the town of La Matanza, Buenos Aires province, will follow "under management of Sanofi until the pre-operational integration activities and transfer are completed." This phase should last from six months to a year and, as a result, the Brazilian will assume in full operation. The staff of the unit will be absorbed into the Eurofarma.
"The acquisition of the factory strengthens the belief of the Eurofarma on activity of the country and is aligned with the strategic vision of the company to consolidate its international operations, earn relevance in each market in which it operates and to become an important regional undertaking," said.
In 2014, the lab, which is present in 15 countries and exports to 20 markets, had revenue of $ 2.6 billion. The purchase of the Sanofi plant represents the second onslaught of Eurofarma for market Argentine assets. In 2009, when he gave the kickoff in its internationalization strategy, bought argentina Quesada and following came through a series of acquisitions of plants in Latin America, with transactions in Uruguay, Bolivia, Chile, Venezuela and Colombia, among other countries in the region.
Given that, last year, according to data from IMS Health, the company has already covered 78.4% of the Latin American market of medicines, which moved $ 71 billion in that fiscal year.. The target for 2015 is to achieve 90% coverage of the region.
"The purchase of a factory in Argentina is aligned with the proposal to strengthen our operation locally and to the strategy of having a productive base outside of Brazil for the countries of the Southern Cone," said by e-mail the Director of sustainability and New pharmaceutical business, Maria del Pilar Muñoz.
As the portal Pharmabiz, which reported the acquisition on Tuesday night based on market sources at argentina of Sanofi are produced medicines mature liquid, solid and semissólidos, among which Novalgina, Deltisona and Rifocina.
With a capacity of 2 million units a month, the plant can be expanded with the arrival of the Eurofarma, according to the site, and receive investments, estimated by sources at $ 6.5 million.