Sanofi acquires leading Colombian firm
pharmafile | October 4, 2012 | News story | Sales and Marketing | Columbia, Genfar, Latin America, Sanofi
Sanofi is expanding its presence in Latin American with the acquisition of a Colombian pharma company.
Genfar is headquartered in Bogota, and is the second-largest generics company in sales in the country. The firm also manufactures over-the-counter and prescription drugs for the human and animal health divisions.
Sanofi says the acquisition will make it a market leader in Colombia, and will broaden its portfolio of affordable pharmaceuticals in Latin America.
Genfar has one of the most modern pharmaceutical complexes in South America and has a commercial presence in Venezuela, Peru, Ecuador and distributors in ten other countries throughout Central and South America.
“With the acquisition of Genfar, Sanofi has a unique opportunity to strengthen its presence in Latin America through a large portfolio of affordable pharmaceuticals in a broad range of markets in the Andean countries and Central America,” says Heraldo Marchezini, senior vice president, Latin America, Sanofi.
“This acquisition will allow Sanofi to better serve the 200 million people in the region,” Marchezini adds.
The acquisition is anticipated to strengthen Sanofi’s ability to capture future market opportunities. It supports Sanofi’s emerging markets strategy, which includes diversifying its portfolio in the Andean Region. The move follows its acquisition of a Brazilian company, Medley, in 2009. Sanofi says Genfar’s animal health products will also help expand its presence in the region’s animal health market.
The Paris-based pharma firm hopes that the acquisition of Genfar, with its strong local brand awareness, will help it seize a share of the expanding market. In 2011, Genfar’s total sales were $133 million, with 30% of sales generated outside Colombia.
Other companies are also pursuing a similar strategy in the region – GSK acquired Argentinian firm Phoenix Laboratories for $253 million in 2010.
Susie Lunt
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