Pfizer extends portfolio with Brazilian generics deal
pharmafile | October 21, 2010 | News story | | Brazil, IMS Health, Pfizer, em, emerging pharma marketings
Pfizer is partnering with leading Brazilian generics firm Laboratorio Teuto Brasileiro to develop and commercialise a number of generic products in a key emerging market.
The partnership will enhance Pfizer’s position in Brazil by providing access to Teuto’s broad portfolio of approximately 250 products, available in more than 400 presentations.
Pfizer also gains access to significant distribution networks in Brazil and the opportunity to commercialise Teuto’s generic products in various markets outside the country.
Under the terms of the agreement, Pfizer will make an upfront payment of approximately $240 million and Teuto will be eligible to receive a performance-based milestone payment.
Pfizer has been looking for a strong generics firm deal for the past year, with the US-based pharma company seeking to buy German generics firm Ratiopharm back in March, before being pipped to the post by Teva.
Jean-Michel Halfon, president of Pfizer’s emerging markets business unit, said: “We believe this partnership will enable both companies to effectively build upon one another’s core capabilities and areas of expertise to help address the needs of more patients than ever before.
“This agreement demonstrates Pfizer’s commitment to pursue focused investments in key emerging markets to accelerate our growth and increase patient access to high-quality medicines.”
Marcelo Henriques, chief executive officer of Teuto Laboratories, said: “Teuto’s partnership with Pfizer is very complementary to our business goals. It will expand our product portfolio and address the needs of the changing customer base.”
Pfizer said the stake in Teuto “demonstrates Pfizer’s commitment” to continue its expansion in emerging markets through “customer-focused efforts by increasing access and affordability, partnering with other companies that offer diverse areas of expertise and leveraging the company’s capabilities to build upon local markets”.
Analysts at IMS Health have deemed Brazil one of the biggest of the emerging markets for pharma.
In a report published in March IMS said Brazil was now in a second tier of top emerging markets alongside Russia and India.
It use to form the top tier of so-called ‘pharmerging markets’ alongside Russia, India and China – the so-called BRIC countries – but the analysts say top tier is now exclusively held by China.
Ben Adams
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