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Colombia/Brazil: Pharmaceutical merger aims high in South America

By  |  January 13, 2014

Colombia-based pharmaceutical giant Biotoscana announced plans to acquire Brazil-based United Medical in hopes to emerge as a major pharma conglomerate in South America, say reports.

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    Biotoscana, which is majority owned by Advent International and Essex Woodlands, did not disclose financial details of the deal.

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    Reports say Latin America’s pharmaceutical industry is one of the most rapid-growing on the planet, currently worth about $70 billion and expected to balloon in the next 10 years.

    The deal remains subject to regulatory approval, including by Brazil’s antitrust regulator CADE.

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