Sanofi to buy Colombian drugmaker Genfar
(Reuters) - Giant French pharmaceutical maker Sanofi SA said Tuesday it would buy Colombian drugmaker Genfar to expand its product portfolio in South America.
Genfar is Colombia's second-largest manufacturer of generic drugs with sales of $133 million last year, of which 30 percent was generated outside the country, Sanofi said in a statement announcing the purchase.
"Sanofi has a unique opportunity to strengthen its presence in Latin America through a large portfolio of affordable pharmaceuticals in a broad range of markets," the company's Latin America chief Heraldo Marchezini said in the statement.
Financial terms were not disclosed.
(Reporting by Laurence Frost; Editing by Gerald E. McCormick)
LONDON - Stocks, the euro, oil and gold all steadied on Tuesday as traders kept a wary eye on Ukraine and Russia and on the pace of growth in China.
- U.S. small businesses borrowed more money in January than they did a year earlier, signaling continued growth in the economy despite a spate of cold weather that has been blamed for weakness in many other indicators of activity.
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.