AsianScientist (May 28, 2012) – Takeda Pharmaceutical Company Limited and Multilab Indústria e Comércio de Produtos Farmacêuticos Ltda. jointly announced on Friday that Takeda Farmacêutica Brasil Ltda., a wholly-owned subsidiary of Takeda, aims to acquire Multilab.
Under the agreement, Takeda Brazil will acquire Multilab in cash for Brazilian Real (BRL) 500 million (US$250 million) upfront and up to BRL 40 million (US$20 million) in additional future milestone payments to the owners of Multilab.
Multilab is a mid-sized pharmaceutical company with annual net revenues of BRL 140 million in 2011. Its business consists of branded generics and OTC (over-the-counter) pharmaceutical products. Retail sales for the company grew in excess of 20 percent per annum over the period 2009 to 2011.
Multilab’s leading products include Multigrip, the country’s best-selling OTC product for cold and flu treatment in units, which Takeda hopes to add to its existing OTC product line in Brazil.
Takeda already manufactures and markets both prescription drugs as well as well-known brands such as Neosaldina (analgesic), Eparema (digestive), and Nebacetin® (anti-bacterial) in Brazil.
“This acquisition significantly reinforces Takeda’s position in Brazil, which is the world’s sixth largest economy and the biggest in South America,” said Jostein Davidsen Corporate Officer, Head of Emerging Markets Commercial Operations for Takeda.
“Takeda has ambitious plans for growth in emerging markets. Brazil is our second largest emerging market after Russia/CIS in terms of revenues and the acquisition of Multilab is a clear signal of our intention to become a significant player both in Brazil and other high-growth markets.”
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Source: Takeda.
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