Nycomed is to acquire the Colombia-based pharmaceutical company Farmacol in order to expand its presence in Latin America.

Formed in 1969, Farmacol has a strong presence in gastroenterology, respiratory and gynaecology and has launched a number of products, including Espasmobil and Vasoton.

Switzerland-based Nycomed believe that the acquisition will support the company’s growth strategy and will hope to exploit Farmacol’s marketing and sales expertise by launching its own products in the region.

The transaction is subject to regulatory approval and is expected to close in the second quarter of 2011.