Brazilians in Pharma Tie-up

Brazil’s Profarma Distribuidora de Produtos Farmaceuticos has agreed to buy 50% of peer Drogarias Tamoio for BRL105m ($53m), it says. The pharmaceutical retailer says the deal comes at a multiple of 7.5x EV/2013 Ebitda. Rio de Janeiro-based Tamoio specializes in medicine, personal hygiene products and beauty products, and booked BRL312m in revenue last year. The transaction is subject to regulatory approval.