Israeli drugmaker Teva is buying Mexican drugmaker Rimsa for $2.3 billion, expanding its presence in one of the world’s top five emerging markets.

Rimsa pulled in revenue of $227 million in 2014, with annual growth, year-over-year, of 10.6% since 2011. 

The company sells a wide range of specialty products and houses a “promising pipeline”, while its “well-established sales footprint” is expected to provide a platform for growth of Teva products, the firm noted.

The transaction, which will make Teva the leading pharma in Mexico, is expected to close early in 2016.

Back in July Teva announced plans to acquire Allergan's generics segement for $40.5 billion.