With: Laboratorios Phoenix
Deal Size: $253 million
Details: Earlier this year GlaxoSmithKline CEO Andrew Witty declared his company's intentions to grow beyond 'white pills and western markets.' The drugmaker has certainly done that, snapping up emerging market drug companies around the globe. It's biggest acquisition in the last 12 months was Argentinian company Laboratorios Phoenix. The drugmaker boasts a pipeline of branded generic pharmaceutical products covering therapeutic areas including cardiovascular, gastroenterology, metabolic and urology, as well as a manufacturing facility near Buenos Aires and an established primary care sales force.
According to IMS Argentina is the eighth largest emerging market, valued at $3 billion and growing at a rate of 22 percent annually. Phoenix reported sales of approximately $110 million in 2009 and it is currently ranked number eight in the Argentine pharmaceutical market. Prior to the acquisition GSK was in 11th place in Argentina; combined, the two companies are the third largest pharma company in the country.