Endo International has completed the acquisition of Grupo Farmaceutico Somar (Somar), a leading, privately owned specialty pharmaceuticals company based in Mexico City. The combination of Somar and Endo advances Endo's position as a leading global specialty healthcare company. It also establishes a platform for growth in key emerging markets in Latin America. Endo will leverage its global resources along with Somar's proven commercial organisation and scalable manufacturing facilities to take full advantage of Somar's robust portfolio of current products and pipeline of over 60 new products that are expected to launch over the next 3 years.
In addition, Endo has appointed Norbert Oppitz as regional president, Latin America, Africa and Export Markets, effective 1 October 2014. In this capacity, Mr Oppitz will assume responsibility for Endo's business in Mexico, including Somar, as well as provide oversight for Endo's investment in Litha Healthcare, based in South Africa. He brings to Endo a wealth of global pharmaceutical leadership experience and industry expertise, having overseen the growth and development of businesses for nearly 25 years in Latin America, the Middle East and North Africa. Most recently, Mr Oppitz held the leadership position of SVP Latin America for Takeda Pharmaceuticals.
"The successful acquisition of Somar supports our strategy for growth and creates a substantial presence for Endo in the exciting and growing Latin American market," said Rajiv De Silva, president and CEO of Endo. "Together with the addition of Norbert to our leadership team I believe we are well positioned to meet the evolving needs of the patients we serve while creating value for our shareholders."