Hypermarcas Trumps Pfizer For Neo Quimica

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Brazilian generic drugmaker Neo Quimica has agreed to be acquired by domestic diversified consumer products company Hypermarcas, in a deal worth around BRL1.3bn (US$734mn). BMI sees the acquisition as something of a coup for Hypermarcas, which beat off competition from leading global pharmaceutical company Pfizer despite the US giant opening negotiations first. Hypermarcas CEO Claudio Bergamo noted the company was proud in outcompeting Pfizer, saying 'the little ant walked faster than the