Sanofi and Boehringer confirm successful exchange of businesses

pharmafile | January 3, 2017 | News story | Manufacturing and Production, Sales and Marketing Boehringer Ingelheim, Sanofi 

Sanofi and Boehringer Ingelheim have confirmed the successful completion of the exchange of Sanofi’s animal health business (Merial, based in Mexico) and Boehringer Ingelheim’s consumer healthcare business (CHC, based in India). The completion of the deal comes a full year after negotiations began in December 2015.

The deal involves Boehringer Ingelheim acquiring Sanofi’s animal care subsidiary worth an estimated $13.5 billion and in return Sanofi will receive Boehringer’s consumer healthcare business, which is valued at $8 billion and an additional $5.5 billion in cash. The swap will see both companies take a market leading position in its respective sector.

The chairman of the board of managing directors of Boehringer Ingelheim, Hubertus von Baumbach, said: “This important achievement is the result of a mutually beneficial agreement implemented in the spirit of a shared vision. Driven by the desire to serve the needs of our customer, and enabled by value of our innovative product portfolio, the combined strength of the two organizations will improve Boehringer Ingelheim’s competitiveness in the Animal Health business segment that is so strategically important to our company. We are delighted to welcome the employees of Merial to our team.”

Olivier Brandicourt, CEO of Sanofi, stated: “With this successful closing of the business swap with Boehringer Ingelheim, Sanofi is building a strong and innovative CHC Global Business Unit. The integration of Boehringer Ingelheim’s highly skilled CHC team and its well established products, allows Sanofi to enhance our positions in core strategic categories in a promising CHC market. Indeed this market serves the growing expectations of consumers to be more in control of their own health and wellness.”

Ben Hargreaves

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