Sanofi Looks to Second-Generation Emerging Markets with Genfar Acquisition
Heather Cartwright
Abstract
Only weeks after declaring that it was seeking deal opportunities in second-generation emerging markets such as Vietnam, Indonesia and Colombia, Sanofi has agreed to acquire Genfar, the second-largest generics company in Colombia in terms of sales. Genfar had total sales of US$133 M in 2011, 30% of which were generated outside of Columbia. Sanofi significantly increased its footprint in Latin America in 2009 with the acquisitions of Brazil’s Medley and Mexico’s Laboratorios Kendrick.
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