German Takes all of Brazilian Pharma

Celesio, the German drug distributor, is exercising its options to buy the 49.9% Brazil’s Panpharma it does not yet own, it says. It is making the move sooner than it had planned at the time of its initial acquisition. It does not give the value, though press reports put it at more than BRL600m ($319m). Celesio did not respond to a request for comment.