Ipsen to acquire Sanofi assets in $88 million deal

pharmafile | February 13, 2017 | News story | Sales and Marketing Boehringer Ingelheim, Prontalgine, Sanofi, ipsen 

Ipsen has announced that it is set to enter into a definitive agreement to acquire five consumer healthcare products from Sanofi. The deal works out at $88 million, involving products that are labelled as Over the Counter.

David Meek, CEO of Ipsen, commented: “This tactical bolt-on transaction resulting from the European Commission’s requirement to divest certain assets from the Sanofi – Boehringer Ingelheim consumer healthcare deal strengthens our consumer healthcare portfolio in France with the addition of Prontalgine. The opportunity immediately improves the profitability profile of Ipsen’s Primary Care business. It adds a limited portfolio of well-established and market leading brands in a key market such as France.”

Ipsen, as noted by Meek, expects the deal to increase profits, with the most valuable of the products being Prontalgine. Prontalgine is an analgesic used to treat to moderate to severe pain. The product has seen sales grow by double-digits over the last four years but is currently only available in France. The four other products are an antispasmodic, a laxative and two expectorants, with rights to sell in eight European countries.

The deal comes about as part of the wider deal that sees Sanofi trade its animal health business, Merial, for Boehringer Ingelheim’s consumer healthcare business, CHC. In order to gain approval for the deal through the European Commission, Sanofi had to agree to sell off assets as part of the process and Ipsen is the company that won the bidding process for the five products.

The deal is expected to complete in the second quarter of this year and will financed with existing cash.

Ben Hargreaves

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