Teva Pharmaceutical Industries Ltd. agreed to acquire Representaciones & Investigaciones Medicas SA, or Rimsa, for $2.3 billion, expanding the Israel-based drug maker’s presence in Mexico.
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. With the move, Teva said it also will become a leading pharmaceutical company in Mexico, a key emerging market.
Teva, the world’s largest generic-drug company by sales, is in the process of making a much bigger acquisition that will put it among the biggest global drug makers–its pending $40.5 billion deal for Allergan PLC’s generic business. Teva has been under pressure because its top-selling product, a brand-name multiple-sclerosis treatment called Copaxone, started facing lower-priced competition in the U.S. in June.