Teva completes acquisition of Rimsa

Teva has announced the completion of its acquisition of Rimsa, a leading pharmaceutical manufacturing and distribution company based in Mexico.

The acquisition provides Teva with a portfolio of products and companies, intellectual property, assets and pharmaceutical patents in Latin America and Europe. In total, the deal was worth $2.3 billion (1.62 billion pounds).

Rimsa has experienced annual year-over-year growth of 10.6 percent since 2011 and can boast has an extensive portfolio of patent-protected products, including a number of fixed-dose combination products that have fuelled its growth.

This purchase makes Teva one of the leading pharmaceutical companies in Mexico, the second largest market in Latin America and one of the top five emerging markets globally.

Erez Vigodman, president and chief executive officer of Teva, said: "Rimsa will provide Teva with a strong brand, unique portfolio of patent-protected products, a promising pipeline and significant relationships with patients, physicians and other healthcare providers."

The company announced last month that it will be launching a new strategic enterprise-wide corporate identity programme to help build a global brand.