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Sanofi-Avintis buys Brazilian firm

09 Apr 2009

Pharmaceutical company Sanofi-Aventis has announced it has bought Medley.

The Paris-based firm has acquired the Brazilian business for £137 million as part of ongoing growth in an effort to improve sales and expand into emerging markets.

According to Sanofi-Aventis spokesperson Heraldo Marchizini, the deal - which is expected to be closed during the second quarter of this year - will improve the corporation''s links with Latin America.

"It illustrates our commitment towards the people of Brazil by providing access to medicines and answering patients'' needs with a broader and well-adapted product portfolio," he said.

Medley is the third largest pharmaceutical company in Brazil, with a generic portfolio of 127 products.

The move comes a month after the French firm announced its Plavix product could help patients with atrial fibrillation who cannot take oral anticoagulants.

When taken with Asprin, the drug has been shown to reduce major vascular events by 11 per cent.