Sanofi buys Colombian drugmaker; Presents encouraging eliglustat and Lyxumia data; Revizes deal with B-MS

In what turns out to be a very busy couple of days for French drug major Sanofi (Euronext: SAN), the company announced an acquisition, revised terms for an off patent best-seller and presented strong clinical data on two of its drugs.

First up, Sanofi said this morning that it has signed an agreement to acquire Genfar SA, a leading pharmaceuticals manufacturer headquartered in Bogota, Colombia. With this acquisition, Sanofi will become a market leader in Colombia and expand its portfolio of affordable pharmaceuticals in Latin America. Financial terms of the transaction, which is expected to close in the first quarter of 2013, were not disclosed.

Genfar is the second largest generic company in sales and leader in units in Colombia and has a commercial presence in Venezuela, Peru, Ecuador and ten other countries in Latin America. In 2011, Genfar’s total sales were $133 million, with 30% of sales generated outside of Colombia. Genfar is one of the fastest growing pharmaceutical companies in Colombia, with a strong local brand awareness and a broad and complete portfolio of affordable pharmaceutical medicines.