Valeant purchases Delta and aims at generic drugs
Valor Econômico
The American pharmaceutical Valeant has purchased the national laboratory Delta. The acquisition, evaluated at R$ 100 million (US$ 55.6 million), shall promote the expansion of the group in dermatological area in the country, which is responsible for 50% of the earnings of the company, and will work as grounds for the company to start developing generic drugs in Brazil, told Valor the President of the Brazilian subsidiary, Carlos Picosse. "Valeant is very much focused on the dermatological and central nervous system segments. With this acquisition, the company strengthens its participation in dermatology, since it already has nearly 20 products and Delta has other 60", said Picosse.
Such strategic acquisition will have a much larger purpose for the American company. "We will start producing generic drugs. This segment has great potential, taking into account the future expiration of patents in the market", said the Executive. According to Picosse, the company intends to increase its presence in the country and it has already begun studying in which areas it will want to operate in generic drugs. The plant of Delta, installed in Indaiatuba (SP), will be the basis for production of the company in this first stage.
The company does not rule out making new acquisitions to promote its growth. Valeant has one plant in Brazil in the region of Campinas. "But this unit produces semi-solid products. We outsource the production of other companies", he said. This year, the pharmaceutical company should also invest nearly US$ 5 million for the acquisition of equipment and also in new hires. "We have some launchings in our ‘pipeline'", said the Executive.
With global earnings of US$ 830 million in 2009, growth of 26% compared to the previous year, Valeant, with shares listed in the New York Stock Exchange, registered earnings of US$ 30 million in Brazil last year, according to data of IMS Health, consulting firm of the sector. Delta ended 2009 with earnings of nearly US$ 28 million, according to IMS. Founded in 1960 in Orange County, California (USA), the company has operated in Brazil since 1998. Delta was established in 1947 and started its activities in Rio de Janeiro, but it moved its headquarters to Indaiatuba in the 1980s.