US-listed drugs company Pfizer has agreed to acquire a 40% stake in Brazil-based generic drugmaker Laboratório Teuto Brasileiroa head of potential full acquisition from 2014.
Pfizer will make an upfront payment of R$400m ($240m) and Teuto will be eligible to receive a performance-based milestone payment. Pfizer has an option to acquire the remaining 60% of Teuto’s shares beginning in 2014, while Teuto’s shareholders have a put option to sell their 60% stake to Pfizer beginning in 2015. Goldman Sachs advised…
