Takeda to acquire Brazil's Multilab for around $249 million
Takeda Pharmaceutical (TYO: 4502), Japan’s largest drugmaker, revealed this morning that it has entered into an agreeement to acquire the Brazilian compony Multilab Industria e Comercio de Produtos Farmaceuticos through its wholly-owned subsidiary Takeda Farmaceutica Brasil.
Takeda expects that the transaction will be finalized by the end of second quarter of its fiscal year 2012. Under the agreement, Takeda Brazil will acquire Multilab in cash for 500 million reals ($249 million) upfront and up to BRL 40 million reals in additional future milestone payments to the owners of Multilab. Other financial conditions were not disclosed.
Multilab is a mid-sized pharmaceutical company with annual net revenues of 140 million reals in 2011. Its business consists of branded generics and over-the-counter (OTC) pharmaceutical products. Retail sales for the company grew in excess of 20% per annum over the period 2009 through 2011.
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