Sanofi and Boehringer Ingelheim have confirmed that the strategic transaction signed in June 2016, which consists of an exchange of Sanofi’s animal health business (Merial) and Boehringer Ingelheim’s consumer health care (CHC) business, has been successfully closed in most markets.
This marks the successful outcome of the business swap, which started with exclusive negotiations in December 2015, according to a press release.
The closing of the acquisition of Merial in Mexico and the Merial and CHC swap in India have been delayed pending receipt of certain regulatory approvals but both are expected to close early this year.
“This important achievement is the result of a mutually beneficial agreement implemented in the spirit of a shared vision,” said Hubertus von Baumbach, chairman of the board of managing directors of Boehringer Ingelheim.
The combined strength of the two organizations will improve Boehringer Ingelheim’s competitiveness in the animal health business segment, he added.
“We are delighted to welcome the employees of Merial to our team,” said the chairman.
Olivier Brandicourt, managing director and chief executive officer 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.”
Brandicourt said: “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.”
Over the last months, Sanofi and Boehringer Ingelheim have diligently prepared for the integration of the businesses and employees under the new ownership.
In the interest of all customers and to ensure uninterrupted business continuity, both companies are keen to achieve a smooth integration of the transferred businesses.
Alan Main, executive vice president of consumer health care and member of Sanofi’s executive committee, will ensure Sanofi’s CHC business including the former Boehringer Ingelheim CHC brands will continue on its growth path.
Boehringer Ingelheim’s animal health business unit will be headed by Dr. Joachim Hasenmaier, who will remain as a member of the company’s board.
This marks the successful outcome of the business swap, which started with exclusive negotiations in December 2015, according to a press release.
The closing of the acquisition of Merial in Mexico and the Merial and CHC swap in India have been delayed pending receipt of certain regulatory approvals but both are expected to close early this year.
“This important achievement is the result of a mutually beneficial agreement implemented in the spirit of a shared vision,” said Hubertus von Baumbach, chairman of the board of managing directors of Boehringer Ingelheim.
The combined strength of the two organizations will improve Boehringer Ingelheim’s competitiveness in the animal health business segment, he added.
“We are delighted to welcome the employees of Merial to our team,” said the chairman.
Olivier Brandicourt, managing director and chief executive officer 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.”
Brandicourt said: “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.”
Over the last months, Sanofi and Boehringer Ingelheim have diligently prepared for the integration of the businesses and employees under the new ownership.
In the interest of all customers and to ensure uninterrupted business continuity, both companies are keen to achieve a smooth integration of the transferred businesses.
Alan Main, executive vice president of consumer health care and member of Sanofi’s executive committee, will ensure Sanofi’s CHC business including the former Boehringer Ingelheim CHC brands will continue on its growth path.
Boehringer Ingelheim’s animal health business unit will be headed by Dr. Joachim Hasenmaier, who will remain as a member of the company’s board.
