Apotex Makes 2nd Acquisition in Europe by Purchasing Lareq Pharma of Spain

07-Dec-2007

Apotex Inc., announced that it has acquired Lareq Pharma S.L. of Spain for an undisclosed sum from Industria Quimica Y Farmaceutica VIR S.A.

Lareq, founded in 1984 and dedicated to generics since 1996, is a mid-sized generic pharmaceutical company. With 12 generic registrations, several pending near-term launches and products in development, Lareq is the 13th largest player in the retail pharmacy generics segment, according to the company. It benefits from strong brand recognition amongst pharmacists, and a nation-wide sales force that reaches Spain's retail pharmacies.

Just recently, Apotex announced the acquisition of Topgen of Belgium from the Zambon Group. "The acquisitions in Belgium and Spain, as well as our new affiliate in Turkey, are clear signals of our commitment to growth outside Canada and the US" continues Andrew Kay.

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