Hungary's Richter buys into distribution firm in Brazil
BUDAPEST Dec 16 (Reuters) - Hungarian drugmaker Richter has bought a 51 percent stake in Brazil's Next Pharma to register and distribute its female healthcare products in the South American country, Richter said in a statement on Monday.
"This important transaction is considered to be a further strategic move to diversify Richter's geographic presence by establishing its direct position in Brazil, one of the fastest growing pharmaceutical markets in the world," it said.
Richter said Next Pharma, a private company founded in 2010, would register and establish a sales network for Richter's female healthcare products, such as its Esmya medicine for the treatment of uterine myoma.
Richter also said it had secured an option to buy the remaining 49 percent of the company, which serves large private and public hospitals, retail chains as well as government agencies in Brazil.
Financial terms of the transaction were not disclosed.
Richter shares closed at 4,455 forints ($20.26) on the Budapest Stock Exchange on Friday.
($1 = 219.91 Hungarian forints) (Reporting by Gergely Szakacs; Editing by Mark Potter)
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