Sanofi-aventis acquires Mexican firm
03 Apr 2009
Sanofi-aventis' Mexican subsidiary has acquired Laboratorios Kendrick with the aim of expanding further into emerging markets.
The move is also part of the French firm's attempts to accelerate sales growth and it says that the takeover is a step towards the company becoming a "global healthcare leader".
Kendrick's share of the Mexican pharmaceuticals market is estimated to be around 15 per cent, while its sales amounted to approximately 500 million Mexican pesos (£24.6 million) in 2008.
"The Kendrick acquisition represents an exceptional opportunity to accelerate our growth in the generic market in Mexico. Sanofi-aventis proves once again its leadership and its commitment to offering quality medicines," says Nicolas Cartier, general manager of the French company.
As part of the merger, it will gain a portfolio including analgesics, antihistamines, anti-infectives, antirheumatics, cardiovascular and central nervous system drugs.
Last month, Sanofi-aventis announced that is has gained a 96.8 per cent stake in Zentiva following the settlement of its voluntary public offer for its share capital.
