Amgen is acquiring Bergamo, a privately held Brazialian pharamaceutical company, for $215 million and also has a tentative agreement to regain product rights held by Hypermarcas. Hypermarcas currently holds rights to Amgen's cancer therapeutic Vectibix and the hyperparathyroidism medication Mimpara. Amgen says the transactions will provide it with a significant presence in Brazil, one of the fastest growing pharmaceutical markets in the world.
Brazil is in the top ten world pharmaceutical markets and has been growing at an annual rate of 12 percent. It is expected to be the world's fifth largest pharmaceutical market by 2015. Amgen says its renewed efforts in Brazil are part of a wider international expansion strategy. See Seeking Alpha.
Posted by Bruce Lehr April 10th 2011.