Teva Pharmaceutical Industries Ltd. (TEVA), the world’s biggest generic-drug maker, is seeking acquisitions in Asia to bolster sales in the region, according to a recent report by Bloomberg.
“A lot of the future growth of the generic industries is going to happen in Asia,” said Chief Financial Officer Eyal Desheh in an interview at the J.P. Morgan Healthcare Conference in San Francisco. “The population is very large.”
Last year, TEVA purchased a 57% stake in Japan-based Taiyo Pharmaceutical Industry Co. for $460 million in cash. Similar purchases may follow.
“The key is very local businesses,” said Desheh, listing countries such as China, India, Philippines,Vietnam and Korea. “We’ll have to go one by one, a lot of footwork, country by country. None of these will be huge acquisitions and this push may take a few years.”
Other than Asia, Brazil is a potential “major market” that Teva needs to get into, according to Desheh.