In order to expand its generics business in fast-growing Latin American markets, Abbott has agreed to acquire Chile’s CFR Pharmaceuticals for US$2.9 B in cash, plus the assumption of net debt of approximately US$430 M. CFR has operations in 15 countries in Latin America and its product portfolio complements Abbott’s pharmaceutical therapeutic areas of focus in women’s health, CNS, cardiovascular and respiratory diseases. In February 2014, CFR withdrew a ZAR12.8 B (US$1.23 B) takeover bid for South Africa’s Adcock Ingram after failing to win the necessary support of the company’s largest shareholders.