Amgen announced
today the expansion of its operations in Brazil,
including the acquisition of Bergamo,
a privately-held Brazilian pharmaceutical company. Amgen has also agreed to
reacquire rights in Brazil
to its products that were previously granted to Mantecorp (subsequently
acquired by Hypermarcas). Together, these transactions will provide Amgen a significant
presence in Brazil
and immediate, direct access to one of the fastest growing pharmaceutical
markets in the world.
Bergamo is a leading supplier
of medicines to the hospital sector in Brazil
with capabilities in oncology medicines and has manufacturing facilities in Sao Paulo state. Bergamo had gross revenues
of US $80 million in 2010 and has been growing at an annual rate of 19 percent since
2007. Under terms of the transaction announced today, Amgen gained full
ownership of Bergamo
by purchasing it for approximately US $215 million.
Amgen has entered into an agreement in principle with
Hypermarcas to reacquire the rights in Brazil to several of Amgen’s innovative medicines,
two of which are already approved in Brazil, Vectibix (panitumumab) and Mimpara
(cinacalcet), and a third, romiplostim, (registered as Nplate in the United
States), a treatment for the blood disorder ITP, which is currently under
review by ANVISA, the regulatory authority in Brazil.
“Amgen’s strategic goal is to make our innovative
medicines available to patients in major markets around the world,” said
Kevin Sharer, Amgen’s chairman and chief executive officer. “Acquiring Bergamo, a profitable company with an established local
infrastructure, and regaining the rights to our products in Brazil, provides us an attractive
entry into the Brazilian market.” The focus on Brazil is part of a wider
international expansion strategy for Amgen. Brazil is among the top 10 pharmaceutical
markets in the world and in recent years has been growing at a rate of about 12
percent per year. It is expected to be the world’s fifth largest pharmaceutical
market by 2015.
