Advertise With UsAdvertise on our extensive network of industry websites and newsletters.
Get the PBR newsletterSign up to our free email to get all the latest PBR
news.Sanofi and Boehringer Ingelheim have completed the exchange of their respective animal health and consumer healthcare businesses in most markets.
Subscribe to our email newsletter
The deal, which was signed in June 2016, includes the transfer of Sanofi’s ownership of the €11.4bn Merial animal health business to Boehringer in return for the latter's consumer healthcare (CHC) business, valued at €6.7bn and €4.7bn of cash.
Sales of Boehringer Ingelheim's CHC business were €1.51bn in 2015, contributing 10% to Boehringer Ingelheim's net sales.
Merial has operations in over 150 countries globally with more than €2.5bn of sales in 2015.
The companies said the transaction has been closed in most markets on 1 January 2017, marking the successful outcome of the business swap which started with exclusive negotiations in December 2015.
The closing of the purchase of Merial in Mexico and the Merial and CHC swap in India have been delayed due to various regulatory approvals. Both the moves are anticipated to close early 2017.
Sanofi CEO Olivier Brandicourt said: “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.”
In other development, Sanofi and its vaccines global business unit Sanofi Pasteur confirmed the end of their vaccine joint-venture with MSD.
The companies will now separately undertake their own vaccine strategies in Europe, combining their respective European vaccines business into their operations.
Image: Sanofi Gerntilly site. Photo: courtesy of Sanofi.