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Biotoscana piques interest of potential suitors: Reuters
Posted on Tuesday, 08 October 2019 15:24
Brazilian pharmaceuticals maker Biotoscana Investments is generating interest from two prospective acquirors, according to Reuters.
Citing a source with knowledge of the matter, the news provider said Knight Therapeutics and Eurofarma have thrown their hats into the ring.
Brazil Journal had earlier reported on the situation, saying that Advent International and EQ Healthcare Partners, who own 27.0 per cent and 17.0 per cent of the business, respectively, have entered discussions over a sale of their shareholdings.
None of the parties involved have commented on the report at this time.
Uruguay-headquartered Biotoscana claims to be the first Latin American biopharmaceutical company.
The company has a presence spanning 10 countries across the continent and employs in excess of 600 people.
Its customer base comprises some 200,000 doctors and over 800,000 patients.
Biotoscana posted net revenues of BRL 204.00 million in the second quarter of 2019, compared to the BRL 248.00 million generated over the corresponding timeframe in 2018.
Gross profit for the period totalled BRL 93.00 million, narrowed from BRL 131.00 million in Q2 2018.
Zephyr, the M&A database published by Bureau van Dijk, shows there have been 1,453 deals targeting pharmaceutical preparation manufacturers announced worldwide since the beginning of 2019.
Of these, the largest was worth USD 74.00 billion and took the form of an acquisition as Bristol-Myers Squibb agreed to pick up Celgene back in January.
This was followed by a USD 63.53 billion takeover, in which AbbVie signed on the dotted line to buy Ireland-based Allergan via its Venice Subsidiary vehicle, back in June.
Other companies in the sector to have been targeted worldwide since the beginning of this year include Mylan, Nestle Skin Health and the OTEZLA assets of Celgene.
© Zephus Ltd