Germany's Grünenthal to acquire Almirall's Mexican operations
German family-owned drugmaker Grünenthal Group has entered into a definitive agreement with Spain’s leading pharma company Almirall (ALM: MC) under which Grünenthal will acquire 100% of the share capital of Almirall de Mexico.
The transaction also includes an agreement to perpetually license a portfolio of mainly international products with around 17.5 million euros ($19.4 million) net sales in 2015 in Mexico. The transaction, financial terms of which were not disclosed, will be completed in early May 2016.
A key element of Grünenthal’s strategy is to significantly expand the business in Latin America – focusing on the key markets Mexico and Brazil – over the next years through internal growth, partnering or acquisitions. With more than 50 years presence in the region, the company is committed to further expand its operations in Latin America.
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