On September 29, Eurofarma completed the acquisition of Genfar, the renowned Brazilian pharmaceutical company with presence in Latin America, the United States and part of Africa. The confirmation of this acquisition took place in the first week of October.
This acquisition means that Genfar will become Eurofarma's generic brand for all Latin American countries, with the exception of Brazil.
Agustín Vincent, General Manager of Genfar, will continue leading the company which has 55 years of experience, a portfolio of 350 products covering 114 molecules and 12 different therapeutic classes.
The transaction includes the incorporation of more than 500 collaborators, the entirety of Genfar's product portfolio, a production facility and the Development and Innovation Center in Cali, Colombia.
Agustín Vincent, General Manager of Genfar, stated: "This is a unique moment that will be marked in our history. Undoubtedly, it will bring new and great opportunities for expansion, innovation and talent development in the region. Additionally, it will allow us to continue with our purpose of caring for the health and well-being of millions of people in Latin America."
Beyond strengthening its generic offering with the acquisition of Genfar, Eurofarma plans to invest $118 million this year in product development. The company has more than 600 researchers in its Eurolab research center and manages a pipeline of 400 projects.
Beyond this investment, Eurofarma focuses on digital health startups, open innovation and biotechnology.
Marco Billi, International CEO of Eurofarma, believes that the acquisition of Genfar consolidates its presence in the region and supports its advancement at the international level, where they continue to grow and reinvest in the business through their commercial force, innovation and merger and acquisition strategies.
With information from La República.
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