São Paulo, October 2nd, 2023 – Eurofarma, the first multinational pharmaceutical company with 100% Brazilian capital and a presence in 22 countries, including all of Latin America, the United States, and Africa, has just completed the acquisition of Genfar, Sanofi’s generics operation headquartered in Colombia, as well as affiliates in Ecuador and Peru. The acquisition of the asset was completed last Friday (9/29/2023)

Genfar now becomes Eurofarma’s brand of generics for all Latin American countries, excluding the Brazilian market. Agustín Vincent, General Manager at Genfar, will continue to lead the company, focused on business continuity, employee contribution, and maintenance of the company’s growth levers. The asset has 55 years of history and includes a portfolio of 144 molecules in 12 different therapeutic classes, totaling 350 products. With the completion of the deal, Eurofarma will be incorporating Genfar’s over 500 employees and entire product portfolio and pipeline, as well as a plant and the R&D center in Cali, Colombia.

With the acquisition of Genfar, Eurofarma consolidated the second position in retail sales in Latin America. “The acquisition consolidates our regional presence and allows us to move forward in our internalization plans, growing and reinvesting continuously in the business through our commercial strength, innovation, and mergers and acquisitions movements,” said Marco Billi, International CEO of Eurofarma.

“In line with our strategic planning, acquiring Genfar makes us bigger and more relevant to expand people´s access to our products. We will work to take the Genfar brand to other geographies and keep our leadership path in the region,” said Maria del Pilar Muñoz, Vice President of Sustainability and New Business at the company. Alongside strengthening the generics platform, the company continues to lead in R&D, investing about R$ 600 million this year. More than 600 researchers work at Eurolab, our innovation center located in the Itapevi industrial complex in São Paulo, Brazil, managing more than 400 projects in its pipeline, and investments in open innovation, digital health, and biotechnology startups.

“This is a unique moment which will be marked in our history. Undoubtedly, it will bring new and great opportunities for expansion, innovation, and people development in the region. And it will also allow us to continue with our purpose of caring for the health and well-being of millions of people in Latin America,” says Agustín Vincent, General Manager of Genfar.

About Eurofarma

Founded in 1972, Eurofarma operates in the health sector, producing and marketing products and services to improve people’s quality of life. Focusing on generating shared value, it covers all the main pharmaceutical segments, such as Prescription, Generics, OTC, Hospital, and Oncology. With a broad coverage of therapeutic classes, its portfolio in the region comprises 2,800 SKUs and serves 42 medical specialties. With a presence in 22 countries, primarily Latin America, it also maintains operations in the United States and Africa.

With over 11,000 employees, in 2022, it became a publicly-held company registered at the Securities and Exchange Commission of Brazil (CVM). It reported R$8 billion in net revenue, a growth of 13.3% compared to the previous year, with R$2 billion in EBITDA, an increase of 20%. In R&D, investments during the year totaled over R$590 million, equivalent to 7.4% of net revenue.

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