Fresenius Kabi expands IV drug business in Latin America with buy of Novafarma
Germany-based Fresenius Kabi has entered into an agreement to acquire the privately held Brazilian pharmaceutical company Novafarma Industria Farmaceutica. Financial terms of the deal were not disclosed.
This transaction is part of Fresenius Kabi’s strategy to expand its market presence and product portfolio in emerging markets. The deal is subject to antitrust approval in Brazil, and is expected to close in the second quarter of 2014.
Novafarma offers a comprehensive range of generic IV drugs, including antibiotics, analgesics and anesthetics, for the Brazilian hospital market. Founded in 1992, the company is headquartered in the state of Goias, where it also operates a manufacturing facility and a research and development center. Its sales in 2013 were around 34 million euros ($46.8 million).
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