Kendle confirms Latin American deal
targeting the emerging Asia Pacific and Latin American markets, has
announced the acquisition of Latin American-based contract research
organisation, International Clinical Research.
The deal adds new operations in Argentina, Brazil, Colombia and Chile to Kendle's Phase II-IV clinical development capabilities.
Kendle already has operations in Mexico and Peru, and recently reorganised its global business into five regions made up of North America, Europe, Asia/Pacific, Latin America and Africa.
The acquisition, expected to be completed in the second quarter, is the culmination of an ongoing relationship between the two companies, who have worked together in recent years on drug development programs in Latin America.
Kendle will acquire the company for an undisclosed cash amount although specific terms of the agreement were not disclosed. It is expected to be modestly accretive to earnings in 2006 and will operate under the Kendle name.
"We believe this merger will provide great benefit to the development of clinical research in Latin America," said Raul Bozzo, founder of International Clinical Research.
"Kendle's reach will bring a wider variety of trials to the region, and our specialised staff and country-specific expertise will add value to Kendle's Latin American operations," he said.
