A PYMNTS Company

Colombia/Brazil: Pharmaceutical merger aims high in South America

 |  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.

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

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.

Full Content: Financial Post

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.