November 2009: Laboratorios Cinfa and Faes Farma reach an agreement for the commercialization and distribution of generic medicaments in Portugal, aiming to exploit mutual synergies and become one of the top players in the industry.
By virtue of this agreement, Laboratorios Cinfa will contribute its leadership experience in the Spanish generics market and the experience of its subsidiary in Portugal, which was one of the fastest growing laboratories last year. Faes Farma will contribute its knowledge of the Portuguese pharmaceutical market and its commercial network of medical sales representatives through its Portuguese subsidiary, Laboratorios Vitoria.
The Portuguese market is of great interest for both companies as a result of its size, (over €500 million), and its superior growth rate compared to other European countries.
SOCIOS advises on the negotiation and the closing of the agreement.