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news.France-based pharmaceutical company Sanofi-Aventis has signed an agreement to acquire Medley, a Brazil-based generic pharmaceutical company, for E500 million.
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This acquisition will reportedly enable Sanofi-Aventis to become the leading player in the field of generics in Brazil and in Latin America.
The closing of the transaction is subject to certain conditions precedent and is expected to occur in the second quarter of 2009.
Heraldo Marchezini, general manager of Sanofi-Aventis Brazil, said: “The acquisition of Medley will not only reinforce the leadership of Sanofi-Aventis in Brazil but it also reflects the tight links between Sanofi-Aventis and Brazil, which have existed for more than 50 years. It illustrates our commitment towards the people of Brazil by providing access to medicines and answering patients’ needs with a broader and well-adapted product portfolio.”