from the November 2015 issue

Teva acquires Gecko Health Innovations

Rimsa CEO Jorge Perez Juarez said, "For 45 years, Rimsa has operated as a leading pharmaceutical company in Mexico, the second largest healthcare market in Latin America, with a high growth, unique and diversified business model. We share Teva's focus on providing quality healthcare and we are excited to become a part of Teva in meeting the needs of a population of 120 million."

Teva Global Generic Medicines president and CEO Siggi Olaffson said, "In addition to this unique portfolio of patent-protected products, Rimsa differentiates itself as a leading provider of branded specialty drugs, including fixed-dose combinations, which increase adherence and reduce overall costs to patients. We will build on their brand reputation, successful sales force model, well-established commercial footprint and loyal customer base to introduce additional specialty and generic Teva medicines to patients in Mexico and across the region."

Teva expects to close these transactions by early first quarter, 2016. The acquisition is not expected to impact 2016 non-GAAP earnings and is expected to be accretive starting the first quarter of 2017. The transactions will be funded through a combination of cash on hand and lines of credit.

Citi acted as financial advisor to Teva, while Goldman Sachs acted as financial advisor to Rimsa.

Reprinted from the Israel High-Tech & Investment Report November 2015

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