04 January 2017

Business Swap Creates Second Largest Animal Health Company in the World

Boehringer Ingelheim (BI) and Sanofi announced this week they have successfully completed a swap of two business units.

The transaction has been in the works for a year.

Sanofi’s animal health business (Merial) was transferred to Boehringer Ingelheim in exchange for BI’s consumer healthcare (CHC) business and a cash payment of €4.7B.

This is a significant business swap in the pharmaceutical sector and makes BI’s animal health unit the second largest animal health player in the world, and number one in pets, swine and equine.

The Chairman of the Board of Managing Directors of Boehringer Ingelheim, Hubertus von Baumbach, said: “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.”

Thanks to the addition of BI’s product and brand portfolio, Sanofi will enhance its position in several of its strategic categories – pain care, allergy solutions, cough & cold care, feminine care, digestive health and vitamins, minerals and supplements.

Olivier Brandicourt, M.D., 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. 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.”

Since the agreement was inked in June 2016, both companies have been preparing for a smooth transition.

Alan Main, Executive Vice President Consumer Healthcare and member of Sanofi’s Executive Committee, has the task of ensuring Sanofi’s CHC business, including the former Boehringer Ingelheim CHC brands, continue on its growth path.

The Boehringer Ingelheim Animal Health business unit will be headed by Dr. Joachim Hasenmaier who will remain as Member of the Boehringer Ingelheim Board of Managing Directors.

No comments:

Post a Comment