Teva Completes Acquisition of Rimsa
03 Mars 2016 - 3:10PM
Business Wire
Transaction Extends Teva’s Presence in Key
Global Market and Enhances Growth Potential
Teva Pharmaceutical Industries Ltd. (NYSE & TASE:TEVA) today
announced that it has successfully completed the acquisition of
Representaciones e Investigaciones Médicas, S.A. de C.V. (Rimsa), a
leading pharmaceutical manufacturing and distribution company in
Mexico, together with a portfolio of products and companies,
intellectual property, assets and pharmaceutical patents in Latin
America and Europe in a set of transactions for an aggregate of
$2.3 billion.
With the completion of the acquisition, Teva is now one of the
leading pharmaceutical companies in Mexico, the second largest
market in Latin America and one of the top five emerging markets
globally.
“This acquisition delivers on our strategy of increasing our
presence in key emerging markets and offers a platform for further
growth in the region. 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,” said Erez Vigodman, President and CEO of
Teva. “We have a clear responsibility to turn those strengths into
meaningful results for patients, customers and the communities we
serve, as well as for our shareholders.”
Rimsa has had annual growth, year-over-year of 10.6% since 2011.
The company has an extensive portfolio of patent-protected
products, including fixed-dose combination products which have
fueled its growth.
“With the combination of Teva and Rimsa, we now have a strong
presence in the market with operational and commercial capacity
that favors rapid market penetration and which allows us to provide
a broad competitive portfolio as well as new treatment options
through differentiated products,” said Siggi Olafsson, President
and CEO of Teva Global Generic Medicines. “Building on Rimsa’s
strong brand reputation and well-established commercial footprint,
together, we will now be able provide a world-class offering of
specialty and generic Teva medicines to patients in Mexico and
across the region."
About Teva
Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) is a
leading global pharmaceutical company that delivers high-quality,
patient-centric healthcare solutions used by millions of patients
every day. Headquartered in Israel, Teva is the world’s largest
generic medicines producer, leveraging its portfolio of more than
1,000 molecules to produce a wide range of generic products in
nearly every therapeutic area. In specialty medicines, Teva has a
world-leading position in innovative treatments for disorders of
the central nervous system, including pain, as well as a strong
portfolio of respiratory products. Teva integrates its generics and
specialty capabilities in its global research and development
division to create new ways of addressing unmet patient needs by
combining drug development capabilities with devices, services and
technologies. Teva's net revenues in 2015 amounted to $19.7
billion. For more information, visit www.tevapharm.com.
Teva's Safe Harbor Statement under the U. S. Private
Securities Litigation Reform Act of 1995:
This release contains forward-looking statements, which are
based on management’s current beliefs and expectations and involve
a number of known and unknown risks and uncertainties that could
cause our future results, performance or achievements to differ
significantly from the results, performance or achievements
expressed or implied by such forward-looking statements. Important
factors that could cause or contribute to such differences include
risks relating to: our ability to achieve substantial synergies in
Mexico; our ability to achieve high levels of long-term and
sustainable profitable growth in the region following the closing;
our ability to continue the rate of growth achieved by Rimsa in the
several years prior to closing; our ability to introduce Teva
products to the region through Rimsa; the timing and amount of
earnings generated by the Rimsa operations following closing; our
ability to develop and commercialize additional pharmaceutical
products; competition for our specialty products, especially
Copaxone® (which faces competition from orally-administered
alternatives and a generic version); our ability to consummate the
acquisition of Allergan plc’s worldwide generic pharmaceuticals
business (“Actavis Generics”) and to realize the anticipated
benefits of such acquisition (and the timing of realizing such
benefits); the fact that following the consummation of the Actavis
Generics acquisition, we will be dependent to a much larger extent
than previously on our generic pharmaceutical business; potential
restrictions on our ability to engage in additional transactions or
incur additional indebtedness as a result of the substantial amount
of debt we will incur to finance the Actavis Generics acquisition;
the fact that for a period of time following the consummation of
the Actavis Generics acquisition, we will have significantly less
cash on hand than previously, which could adversely affect our
ability to grow; the possibility of material fines, penalties and
other sanctions and other adverse consequences arising out of our
ongoing FCPA investigations and related matters; our ability to
achieve expected results from investments in our pipeline of
specialty and other products; our ability to identify and
successfully bid for suitable acquisition targets or licensing
opportunities, or to consummate and integrate acquisitions; the
extent to which any manufacturing or quality control problems
damage our reputation for quality production and require costly
remediation; increased government scrutiny in both the U.S. and
Europe of our patent settlement agreements; our exposure to
currency fluctuations and restrictions as well as credit risks; the
effectiveness of our patents, confidentiality agreements and other
measures to protect the intellectual property rights of our
specialty medicines; the effects of reforms in healthcare
regulation and pharmaceutical pricing, reimbursement and coverage;
competition for our generic products, both from other
pharmaceutical companies and as a result of increased governmental
pricing pressures; governmental investigations into sales and
marketing practices, particularly for our specialty pharmaceutical
products; adverse effects of political or economic instability,
major hostilities or acts of terrorism on our significant worldwide
operations; interruptions in our supply chain or problems with
internal or third-party information technology systems that
adversely affect our complex manufacturing processes; significant
disruptions of our information technology systems or breaches of
our data security; competition for our specialty pharmaceutical
businesses from companies with greater resources and capabilities;
the impact of continuing consolidation of our distributors and
customers; decreased opportunities to obtain U.S. market
exclusivity for significant new generic products; potential
liability in the U.S., Europe and other markets for sales of
generic products prior to a final resolution of outstanding patent
litigation; our potential exposure to product liability claims that
are not covered by insurance; any failure to recruit or retain key
personnel, or to attract additional executive and managerial
talent; any failures to comply with complex Medicare and Medicaid
reporting and payment obligations; significant impairment charges
relating to intangible assets, goodwill and property, plant and
equipment; the effects of increased leverage and our resulting
reliance on access to the capital markets; potentially significant
increases in tax liabilities; the effect on our overall effective
tax rate of the termination or expiration of governmental programs
or tax benefits, or of a change in our business; variations in
patent laws that may adversely affect our ability to manufacture
our products in the most efficient manner; environmental risks; and
other factors that are discussed in our Annual Report on Form 20-F
for the year ended December 31, 2015 and in our other filings with
the U.S. Securities and Exchange Commission (the "SEC").
Forward-looking statements speak only as of the date on which they
are made and we assume no obligation to update or revise any
forward-looking statements or other information, whether as a
result of new information, future events or otherwise.
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version on businesswire.com: http://www.businesswire.com/news/home/20160303005873/en/
For Teva Pharmaceutical Industries Ltd.:IR:United StatesKevin
C. Mannix, 215-591-8912orRan Meir,
215-591-3033orIsraelTomer Amitai, 972 (3)
926-7656orPR:United StatesDenise Bradley,
215-591-8974orIsraelIris Beck Codner, 972 (3) 926-7687
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