Skadden Reps Pfizer In $240M Deal For Teuto Stake

Law360, New York (October 20, 2010, 2:04 PM EDT) -- Pfizer Inc. said Wednesday it agreed to buy a 40 percent stake in Laboratorio Teuto Brasileiro SA, a Brazilian generic drugmaker, for R$400 million ($240 million) as the company seeks to expand into emerging markets.

The world's largest drugmaker will pay the $240 million upfront and make an additional payment if Teuto meets performance milestones, said Pfizer, which has an option to acquire the remaining 60 percent of Teuto's shares in 2014.

The deal will grant Pfizer access to Teuto's roughly 250 products and its distribution...
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