Rafarma Pharmaceuticals has reached an agreement to be acquired by R. & D. Biocogency Laboratories. Under the agreed terms, Bio-cogency will acquire majority control of Rafarma Pharmaceuticals upon completion of Biocogency’s transition to GAAP reporting standards and finalization of acquisition agreements.

For Biocogency, this acquisition will be an opportunity to add to its portfolio of biotech companies and expand its global footprint. With Rafarma, this portfolio of companies intends to expand its biotechnology business into North America, and use the synergy of the portfolio to conduct joint research projects for new health product development.

Currently, Biocogency is privately-owned with an existing portfolio of companies that manufacture and distribute generic drugs, equipment and drugs for nuclear medicine, research on new drugs, as well as a complex of vivarium laboratories that develop high technology drugs in biotechnology sector.

For the 2019 reporting year, the Biocogency group reported consolidated earnings of $73 Million and gross profits of $17 Million at fiscal year-end. Gross investments of Bio-cogency into its own development and development of new drugs and technological platforms from 2012 to the present amounted to more than USD $120,000,000.