Roemmers of Argentina has paid $20 million to buy a plant from Roche atOlivos, Buenos Aires, where it plans to consolidate its management offices and produce specialty medications as well as injectables, according to the magazine El Cronista. Roemmers has annual sales of $298 million and approximately a 3.8% share of the Argentinian drug market.
Roemmers has already invested $60 million in a US Food and Drug Administration-approved plant at Mataderos and a further $5 million in another unit at Villa Pueyrrdon. This latest purchase follows the company's recent acquisition of partial control of the Gador laboratory, in a deal worth $60 million.
For Roche's part, the group is restructuring in Argentina and is investing approximately $45 million to set up a new plant in Pilar, where it expects to increase its production capacity by 200% compared with the Olivos facility.
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