Amgen has acquired privately-held pharmaceutical company Bergamo for $215m as part of its plans to expand its operations in Brazil.
Under the transaction, Amgen will gain full ownership of Bergamo, which has been growing at an annual rate of 19% since 2007.
Bergamo, which owns manufacturing facilities in São Paulo, is a medicines supplier to Brazil’s hospital sector with capabilities in oncology treatments.
Amgen has also agreed to regain rights to several medicines in Brazil, including colorectal cancer treatment Vectibix (panitumumab) and hyperparathyroidism drug Mimpara (cinacalcet), which were previously granted to Mantecorp.
The firm believes Brazil will be the world’s fifth largest pharmaceutical market by 2015.
Amgen chairman and chief executive officer Kevin Sharer said, “Amgen’s strategic goal is to make our innovative medicines available to patients in major markets around the world.
“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.”