Grupo Biotoscana buys Laboratorio LKM

Grupo Biotoscana SL has acquired Laboratorio LKM S.A. Financial terms weren’t announced. Both Grupo Biotoscana and LKM are backed by Advent International. LKM, of Buenos Aires, is a specialty pharmaceutical manufacturer.


MADRID AND BUENOS AIRES – December 21, 2015 – Grupo Biotoscana SL, a

leading specialty pharmaceutical company in Latin America, today announced that it

has completed the acquisition of Laboratorio LKM S.A., a specialty pharmaceutical

manufacturer based in Argentina. The transaction creates the first biopharmaceutical

company in Latin America with a truly pan-regional presence and focus on specialty

pharmaceuticals. Financial terms of the transaction were not disclosed.



The combined group will have revenue of US$250 million, with operating companies

in 10 countries throughout Latin America and a strong combination of world-class

licensed products and proprietary specialty branded generic products. The company

will operate under the Biotoscana, United Medical and LKM brands.



GBT is controlled by global private equity firm Advent International, with other

significant shareholders including Essex Woodlands and a number of private

investors. The company operates in some of the fastest-growing geographies in the

world, such as Brazil, Colombia, Peru, Chile and Argentina, and focuses on rapidly-

growing market segments, such as oncology, infectious diseases, hematology,

genetic disorders, HIV and rare diseases.



LKM, which was also controlled by Advent International, has a 30-year track record

of innovation and excellence in the specialty segments. The company has operations

in Argentina, Uruguay, Peru, Chile, Bolivia, Ecuador and Paraguay. It has a premier

position in the oncology market in Latin America, with a state-of-the-art drug

development pipeline and high-end branded generics portfolio. LKM’s expertise in

oncology and HIV will complement GBT’s current specialty portfolio.



“Today’s announcement is very exciting for us as GBT consolidates its position as

the first truly Latin American advanced medicines company,” said Mariano


Chief Executive Officer of the group. “The acquisition will enhance

GBT’s product portfolio, broaden our geographic reach and add in-house R&D and

manufacturing capabilities. Additionally, LKM will strengthen our product renewal

pipeline and add to our strong management team.”



“The combination with GBT will help LKM reach critical mass in a number of key

countries where the companies’ operations overlap such as Argentina, Chile and

Peru,” said Patricio Rabinovich, Chief Executive Officer of LKM. “We will also have

the opportunity to introduce GBT and LKM products to each other’s markets and




The specialty medicines market is the fastest-growing segment of the global

pharmaceutical sector and is projected to account for 40%–50% of the market by

2018, according to IMS Health. IMS Health and Deloitte expect the Latin American

pharmaceutical market to grow at a compound annual rate of 12% between 2013

and 2017, the highest growth rate of any region in the world due largely to increasing

access to healthcare throughout Latin America. GBT will seek to capitalize on this

significant opportunity by further expanding its regional footprint, diversifying its

product portfolio through in-licensing and proprietary R&D and pursuing additional

mergers and acquisitions.



Mariano GarcíaValiño

is scheduled to present at the 34th Annual J.P. Morgan

Healthcare Conference in San Francisco on January 13, 2016 at 4:00 p.m. PST.



About GBT


Grupo Biotoscana (GBT) is a rapidly growing biopharmaceutical company in Latin

America. The group was established through the union of two leading specialty

pharmaceutical companies, each with more than 25 years of experience in their

respective markets: Biotoscana, founded in 1984, and United Medical, founded in

  1. GBT markets leading brands in the fields of high-complexity genetic disorders,

rare diseases, onco-hematology and specialty treatments, and has long-standing

partnerships with top global pharmaceutical players. More information is available at



About Laboratorio LKM


Founded in 1984, LKM is a leading player in Argentina’s oncology, urology, HIV and

specialty treatment markets. The company has established a strong track record of

product launches and innovation and remains dedicated to continued research and

development aimed at advancing the quality and efficacy of care. More information is

available at



About Advent International


Founded in 1984, Advent International is one of the largest and most experienced

global private equity investors. The firm has invested in more than 300 private equity

transactions in 42 countries and, as of June 30, 2015, had $33 billion in assets under

management. Advent is one of the leading private equity investors in Latin America.

Since 1996, the firm has raised more than $6 billion in funds dedicated to the region

and invested in over 50 Latin American companies. Advent also has significant

experience in the healthcare sector, having invested in 35 companies globally across

pharmaceuticals, medical devices, healthcare services and healthcare IT. In addition

to Biotoscana and LKM, Advent’s Latin American healthcare investments have

included Fleury S.A. (BM&FBOVESPA: FLRY3), the second-largest diagnostic

services provider in Brazil, and Fada Pharma, Argentina’s leading manufacturer of

generic pharmaceuticals for the institutional market. For more information, visit



About Essex Woodlands


With $2.5 billion under management, Essex Woodlands is one of the largest and

oldest growth equity firms pursuing investments in pharmaceuticals, medical devices,

healthcare services and healthcare information technology. Since its founding in

1985, Essex Woodlands has maintained its singular commitment to the healthcare

industry and has been involved in the founding, investing and/or management of over

150 healthcare companies, ranging across sectors, stages and geographies. The

team is comprised of 20 senior investment professionals with offices in Palo Alto,

Houston, New York and London. For more information, please see



Forward-Looking Statements


This release includes forward-looking statements concerning a transaction between

GBT-Grupo Biotoscana and Laboratorios LKM, including expectations with regard to

the applicability of predictions to the development and commercialization of future

products. GBT-Grupo Biotoscana, United Medical, Advent International and Essex




Woodlands disclaim any obligation to update any forward-looking statement, except

as required by applicable law.