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Pfizer to Acquire Stake in Brazilian Generics Firm

3:57 AM MDT | October 21, 2010 | Deepti Ramesh

Pfizer says it will acquire a 40% stake in Laboratorio Teuto Brasileiro (Anápolis, Brazil), a leading generics company, and that the companies have entered into a partnership to develop and commercialize generic medicines. Pfizer will make an upfront payment of R$400 million ($240 million) and Teuto will be eligible to receive a performance-based milestone payment, under the terms of the deal. Pfizer has an option to acquire the remaining 60% of Teuto’s shares beginning 2014. The deal will enhance Pfizer’s position in Brazil, a key emerging...

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