CFR Continues Global Spree

Chile’s CFR Pharmaceuticals has agreed to buy 50.79% of Canada’s Uman Pharma for CAD26m ($26m), its second small international buy in less than a week. The pharmaceutical company continues to spend a $370m IPO war chest after buying a 41.88% position in Vietnam’s Domesco for $14m. CFR is making both a LatAm and EM-wide expansion push, to capitalize on rising incomes and economic growth across the globe. Prior to the recent purchases, it was present in 19 countries in Asia, the Americas and Europe, either through direct operations or joint ventures.