Sanofi Sanofi-Aventis is on a deal making roll. The company is set to acquire Brazilian generics maker Medley, according to a local paper, for $670 million. The French pharma just snapped up Laboratorios Kendrick, a Mexican drugmaker, and not too long ago completed its buyout of Czech generics leader Zentiva. Plus, Sanofi had been on the hunt for India's Piramal until that company priced itself out of the deal.

All these companies are a.) located and operating in emerging markets, and b.) Big into copycat meds. So, each makes two diversification moves for the price of one. All to the good for new CEO Chris Viehbacher’s stated goal of broadening Sanofi's focus.

Don't expect the Medley buy–which is expected to close in about two weeks–to be Sanofi's last, either. Viehbacher has assembled an acquisition war chest, and he's pledged to deliver lots of new drug candidates via licensing and/or buyouts.