Further acquisition for Nycomed, which buys Colombian company Farmacol

Fast growing independent Swiss drugmaker Nycomed says that it is expanding its presence in Latin America through the purchase of Laboratorios Farmacol SA, a Colombia based, family-owned pharmaceutical company, which has a strong presence in the areas of gastroenterology, respiratory and gynecology. The company declined The Pharma Letter’s request to reveal financial terms of the deal, but said it is subject to regulatory approval but is expected to close in the second quarter of this year.

Farmacol will provide Nycomed access to the high-growth (+14%) Colombian pharmaceutical market (Latin America's fifth largest pharmaceutical market), and adds to the Swiss firm’s recent acquisitions in emerging markets, such as China, where Nycomed last year acquired a majority - 51.34% - stake in Guangdong Techpool Bio-Pharma, a fast-growing Chinese bio-pharmaceutical company based in Guangdong (TPL November 1, 2010) and last year also set up a joint venture in Russia.

Farmacol, founded in 1969, has developed and launched a number of products such as Espasmobil (anti-spasmodic) and Vasoton (anti-varicose treatment), which have contributed to building a strong and sustainable business in Colombia. Included among the 10 leading local Colombian pharmaceutical companies, Farmacol has a sizeable marketing and sales organization, and its production facility with a focus on liquids, solids, semi-solids and effervescent products, has been GMP (good manufacturing practice) audited and received all approvals from the Colombian authorities (Instituto Nacional de Vigilancia de Medicamentos y Alimentos, INVIMA), the Swiss firm noted.