Teva completes Rimsa buyout

Pharmaceutical company Teva has bought Mexico-based Representaciones e Investigaciones Médicas (Rimsa), in a deal totalling $2.3 billion (£1.6 billion).

Teva released a statement on March 3, outlining details of the agreement.

The acquisition, according to Teva, includes a portfolio of products, intellectual property, assets and pharmaceutical patents in Latin America and Europe.

Teva said the deal amounted to “an aggregate” of $2.3 billion.

Erez Vigodman, chief executive of Teva, said: “This acquisition delivers on our strategy of increasing our presence in key emerging markets and offers a platform for further growth in the region.

“Rimsa will provide Teva with a strong brand and unique portfolio of patent-protected products.”