Abbott to buy Chile’s CFR for $3bn

US medical products specialist Abbott has agreed to buy Chilean generic drugmaker CFR Pharmaceuticals for $2.9 billion (£1.7 billion), and will take on $430 million of CFR’s debt.

The move will bolster Abbott’s position in the rapidly growing markets of Latin America, expanding the company by around 7000 employees at R&D and manufacturing facilities in Chile, Colombia, Peru and Argentina. Abbott will also get access to CFR’s portfolio of over 1000 branded generic drugs and other products, as well as its distribution networks across the region.

Related Content

PPG to buy Mexican paints firm Comex

1 July 2014 Business

news image

$2.3bn deal expands US firm’s footprint in Central America

Mallinckrodt to buy Ikaria to expand in US hospitals

9 March 2015 Business

news image

$2.3bn deal brings nitric oxide ventilator system for newborns with respiratory failure

Most Commented

Antimony recovery lights up lamp waste recycling

2 October 2015 Research

news image

Green method produces fertiliser as a byproduct

Environmentally-friendly quantum dots make their mark

5 October 2015 Research

news image

Indium phosphide nanoparticles offer non-toxic alternative to cadium for richer, more colourful display screens