Takeda Pharmaceutical Co. Ltd. and its wholly-owned subsidiary Takeda Brazil, have entered an agreement to acquire Multilab for $245.5 million in cash, and as much as $19.6 million in additional future milestone payments. The transaction is expected to close 2Q12.
Multilab, based in Rio Grande do Sul, Brazil, is a mid-sized pharma company with branded generics and OTC pharmaceutical products. Annual revenues were $75.0 million in 2011. Retail sales for the company grew 20% during 2009 - 2011. Its lead product includes Multigrip, an OTC cold and flu treatment.
Takeda has an established presence in Brazil, manufacturing and marketing both prescription drugs as well as an OTC portfolio including brands such as Neosaldina (analgesic), Eparema (digestive) and Nebacetin (anti-bacterial).
"This acquisition significantly reinforces Takeda's position in Brazil, which is the world's sixth largest economy and the biggest in South America," said Jostein Davidsen corporate officer, head of Emerging Markets Commercial Operations for Takeda. "Takeda has ambitious plans for growth in emerging markets. Brazil is our second largest emerging market after Russia/CIS in terms of revenues and the acquisition of Multilab is a clear signal of our intention to become a significant player both in Brazil and other high-growth markets."
"Multilab will benefit from becoming part of the Takeda group, enabling the company to reinforce its market position and reach more patients with its key products in Brazil," said Hilton Cavedon, executive director of Multilab.