EMS to Buy Sanofi Medley Unit for Over 500 Million Dollars
EMS announced the purchase of Sanofi unit Medley for over 500 million dollars. The deal seeks to expand generic market share and awaits antitrust approval.
The pharmaceutical landscape in Brazil is set for a significant shift as the local industry leader EMS announced the acquisition of Medley, a subsidiary of the drugmaker France-based Sanofi. While the official joint statement did not specify the financial terms, Marcus Sanchez, vice president of EMS, confirmed to reporters that the deal is valued at more than $500 million.
The transaction awaits regulatory clearance from the Administrative Council for Economic Defense (Cade), the antitrust watchdog in the country. EMS anticipates receiving the necessary approvals by the end of the year. Sanchez emphasized that the acquisition would elevate the group's market share in the generic medicine sector to approximately 30%, a level he suggests does not constitute an anti-competitive market concentration.
