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.
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.
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
- 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 www.lkmsa.com.ar.
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 www.ewhv.com.
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.