Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

Teva Pharma to purchase Mexico’s Rimsa for $2.3bn

Teva Pharma to purchase Mexico’s Rimsa for $2.3bn
The Rimsa purchase will contribute to Teva´s earnings starting from the first quarter of 2017.

Teva Pharmaceutical Industries (NYSE:TEVA) rose at midday after the Israeli generic drugs maker agreed to acquire Representaciones & Investigaciones Medicas SA, or Rimsa, for $2.3bn.

ADRs of Teva rose 1.6% to $57.37 at 11:23 a.m. in New York.

The Petah Tikva, Israel-based company said on Thursday Rimsa has an extensive portfolio of drugs, a promising drug pipeline and a well-established market presence to introduce additional Teva products in Mexico and Latin America.

Rimsa had $227mln in sales in 2014.

The purchase will contribute to Teva´s earnings starting from the first quarter of 2017. 

The transaction is expected to complete in the early part of 2016.

Goldman Sachs acted as financial adviser to the North American outfit in the sale.

 

View full TEVA profile View Profile

Teva Pharmaceutical Industries Timeline

Related Articles

woman at a microscope
September 04 2017
Lead product Lojuxta generated revenues of €5.75mln in the first-half
researcher using microscope
September 28 2017
A total of £6mln is expected to come via a share placing and up to a further £2mln through an open offer of stock to existing investors

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2017

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use