Endo International plc / Grupo Farmaceutico Somar SAPI de CV

Latin American Specialty Branded & Generic Pharmaceuticals

$100M Somar 2013 revenue (~$100M, ~1,200 employees)

Disease Overview

Mexico is Latin America's second-largest pharmaceutical market, dominated by branded generics, OTC and government-tender generic supply. Somar focused on three Mexican segments: traditional/private-label generics for government tenders, branded generics in dermatology and infectious disease, and OTC women's health and pediatric products — a mixed-mechanism specialty portfolio rather than a single therapeutic indication.

Competitive Landscape

Mexico's pharmaceutical market is the second largest in Latin America and is split between multinational originators (Pfizer, Bayer, Sanofi, Roche), local champions (Genomma Lab, Laboratorios Sanfer, Liomont, Silanes) and a fast-growing branded-generics tier where Somar competed. Somar generated ~$100M in 2013 revenue across 1,200 employees, with 60+ pipeline products slated for launch over three years and platforms in dermatology, infectious disease, women's health and pediatrics. Endo's $270M cash acquisition (closed July 24, 2014) — alongside its $2.7B Paladin Labs deal closed earlier the same year — was framed by then-CEO Rajiv De Silva as 'pursuing accretive acquisitions that diversify our pharmaceutical business beyond the U.S. by accessing attractive emerging markets.' The deal extended Endo's emerging-markets footprint and gave it an in-country Mexican sales force and manufacturing base. Somar competed against domestic branded-generics leaders (Genomma Lab, Sanfer, Silanes) plus multinational specialty players. The thesis underperformed: Endo divested Somar to Advent International for ~$124M in July 2017, realizing a substantial loss as Endo retreated to core US specialty and generics under new CEO Paul Campanelli.