Sanofi and Boehringer Ingelheim Confirm Closing of Business Swap on January 1st 2017
January 02 2017 - 1:55AM
Business Wire
- Both companies will become global leaders
in two different sectors of the pharmaceutical market -
Sanofi and Boehringer Ingelheim confirmed today 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 healthcare (CHC) business, has been
successfully closed in most markets on January 1st 2017. This
closing marks the successful outcome of the business swap which
started with exclusive negotiations in December 2015. 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 2017.
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(Graphic: Business Wire)
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, 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. 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 as of the first day under new ownership. In the interest
of all customers and to ensure uninterrupted business continuity,
it is both companies’ priority to achieve a smooth integration of
the transferred businesses.
Alan Main, Executive Vice President Consumer Healthcare 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. 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.
About Sanofi
Sanofi, a global healthcare leader, discovers, develops and
distributes therapeutic solutions focused on patients' needs.
Sanofi is organized into five global business units: Diabetes and
Cardiovascular, General Medicines and Emerging Markets, Sanofi
Genzyme, Sanofi Pasteur and Consumer Healthcare. Sanofi is listed
in Paris (EURONEXT: SAN) and in New York (NYSE: SNY).
About Boehringer Ingelheim
Boehringer Ingelheim is one of the world’s 20 leading
pharmaceutical companies. Headquartered in Ingelheim, Germany,
Boehringer Ingelheim operates globally through 145 affiliates and a
total of some 50,000 employees. The focus of the family-owned
company, founded in 1885, is on researching, developing,
manufacturing and marketing new medications of high therapeutic
value for human and veterinary medicine.
Social responsibility is an important element of the corporate
culture at Boehringer Ingelheim. This includes worldwide
involvement in social projects through, for example, the initiative
“Making More Health” while also caring for employees. Respect,
equal opportunity and reconciling career and family form the
foundation of mutual cooperation. The company also focuses on
environmental protection and sustainability in everything it
does.
In 2015, Boehringer Ingelheim achieved net sales of about 14.8
billion euros. R&D expenditure corresponds to 20.3 per cent of
net sales.
For more information please visit
www.boehringer-ingelheim.com
Sanofi Forward-Looking Statements
This press release contains forward-looking statements as
defined in the Private Securities Litigation Reform Act of 1995, as
amended. Forward-looking statements are statements that are not
historical facts. These statements include projections and
estimates and their underlying assumptions, statements regarding
plans, objectives, intentions and expectations with respect to
future financial results, events, operations, services, product
development and potential, and statements regarding future
performance. Forward-looking statements are generally identified by
the words "expects", "anticipates", "believes", "intends",
"estimates", "plans" and similar expressions. Although Sanofi's
management believes that the expectations reflected in such
forward-looking statements are reasonable, investors are cautioned
that forward-looking information and statements are subject to
various risks and uncertainties, many of which are difficult to
predict and generally beyond the control of Sanofi, that could
cause actual results and developments to differ materially from
those expressed in, or implied or projected by, the forward-looking
information and statements. These risks and uncertainties include
among other things, the uncertainties inherent in research and
development, future clinical data and analysis, including post
marketing, decisions by regulatory authorities, such as the FDA or
the EMA, regarding whether and when to approve any drug, device or
biological application that may be filed for any such product
candidates as well as their decisions regarding labelling and other
matters that could affect the availability or commercial potential
of such product candidates, the absence of guarantee that the
product candidates if approved will be commercially successful, the
future approval and commercial success of therapeutic alternatives,
the Group's ability to benefit from external growth opportunities,
trends in exchange rates and prevailing interest rates, the impact
of cost containment initiatives and subsequent changes thereto, the
average number of shares outstanding as well as those discussed or
identified in the public filings with the SEC and the AMF made by
Sanofi, including those listed under "Risk Factors" and "Cautionary
Statement Regarding Forward-Looking Statements" in Sanofi's annual
report on Form 20-F for the year ended December 31, 2015. Other
than as required by applicable law, Sanofi does not undertake any
obligation to update or revise any forward-looking information or
statements.
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version on businesswire.com: http://www.businesswire.com/news/home/20170101005024/en/
Sanofi:Media RelationsCoralie Savin, +33 (0)1 53
77 46 46mr@sanofi.comorInvestor RelationsGeorge Grofik, +33
(0)1 53 77 45 45ir@sanofi.comBoehringer Ingelheim:Media
RelationsDr Ralph Warsinsky, + 49 6132 77 7051Mobile:
+49 178 290 8561press@boehringer-ingelheim.com
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