Richter acquires majority stake in Latin American marketing partner

Pharma

Hungarian drug maker Gedeon Richter on Tuesday reported about signing an agreement to acquire an initial 51% stake in Netherlands-based Mediplus, its marketing partner in Latin America.

Curacao-based Mediplus sells Richter's female healthcare products in Ecuador, Peru, Chile and Bolivia as well as countries in Central America and the Caribbean.

Under the terms of the agreement, Richter would acquire the remaining 49% stake in Mediplus over the next three years. Hungarian drug maker would pay an initial sum for the majority stake and further milestone payments linked to performance-related targets.

Richter announced in December it had agreed to acquire controlling stakes in its marketing partners in Brazil and Mexico as part of an expansion in the region. Richter said the latest transaction was “a further step towards getting our foothold in Latin America, one of the fastest growing regions in the world”.

-- Christian Keszthelyi contributed to this article

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