Valeant To Acquire Tecnofarma

Valeant has signed a sale and purchase agreement to acquire Tecnofarma for approximately one times sales.

Michael Pearson, chairman and CEO of Valeant, said: The acquisition of Tecnofarma is consistent with our business plan strategy. The government and private label markets in Mexico are large and growing components of the overall pharmaceutical industry in the region and are complementary to Valeant Mexico’s current market focus on the commercial branded generic market.

Tecnofarma is a Mexican pharmaceutical company that manufactures, distributes, assemble, market and export generic drugs and brand exchangeable for different therapeutic uses, such as Gastroenterology, Rheumatology, Endocrinology, Cardiology, Analgesia, Dermatology, Pneumology and Immunology.