Amgen Targets Brazil Through $215M Takeover of Bergamo and Reacquisition of Products
Biotech giant suggests Brazil will be world’s fifth largest pharma market by 2015.!--h2>
Amgen has bought Brazilian pharmaceutical firm Bergamo for $215 million and separately announced a deal to reacquire from Hypermarcas a number of its products for the Brazilian market. Bergamo supplies drugs to the hospital sector in Brazil and has manufacturing facilities in Sao Paulo. The firm recorded gross revenues of $80 million in 2010 and has been growing at an annual rate of 19% since 2007, Amgen notes.
Amgen’s deal with Hypermarcas will see the U.S. biotech giant further expand its presence in Brazil by reaquiring the Brazilian rights to a number of its drugs including Vectibix and Mimpara, which are already marketed in Brazil, and the FDA-approved romiplostim, a treatment for ITP which is currently under review by the Brazilian regulatory authorities.
“Acquiring Bergamo, a profitable company with an established local infrastructure, and regaining the rights to our products in Brazil, provides us an attractive entry into the Brazilian market,” remarks Kevin Sharer, Amgen chairman and CEO.
Amgen claims the Brazilian pharmaceutical market has been growing at an annual rate of 12% over recent years and already represents one of the world’s top 10 pharmaceutical markets. The firm suggests Brazil is expected to be the world’s fifth largest pharma market by 2015.