« Return to News | Drug Sponsors

Sanofi’s Aventis to pay $109 million for Universal

Thursday, August 25, 2011 10:40 AM

India's Aventis Pharma, a unit of French drug maker Sanofi, is close to buying the over-the-counter business of Universal Medicare for about $109.5 million, two sources with direct knowledge of the matter said, according to Reuters.

A deal, which covers about 30 brands sold by unlisted India-based Universal Medicare, is expected to be signed and would boost the French company's over-the-counter business in India, the sources said.

"Sanofi's OTC business in India was quite nominal ... and the products are profit making," one of the sources said.

The over-the-counter products segment in India is valued at roughly 20-30 billion rupees and is growing at 17-18% annually, faster than the 12-15% growth in the broader pharmaceutical sector, according to ICICI Securities analyst Siddhant Khandekar.

"Sanofi has been looking for OTC brands and this is just like grabbing an opportunity for them," he said.

Earlier, the Economic Times reported that Sanofi was in advanced talks for a strategic tie-up with Universal Medicare, which makes popular cod liver oil capsules brand Seacod.

The acquisition has a medium-term non-compete clause for Universal Medicare and also involves the transfer of related marketing and distribution operations to Aventis Pharma, the sources said.

Share:          
CLINICAL TRIAL RESOURCES

Search:

NEWS ONLINE ARCHIVE

Browse by:

CWWeekly

September 30

Novartis-Walgreens pilot study blurring the line between retail pharmacy, investigative site

CISCRP to launch traveling science museum exhibit to demystify clinical trial participation

Already a subscriber?
Log in to your digital subscription.

Subscribe to CWWeekly.

The CenterWatch Monthly

October

New growth and decline in Asia clinical trials
South Korea, Japan, China see big growth in 1572s, while India posts huge drop

Harnessing Big Data to transform clinical trials
From protocol to patient recruiting, data analytics can yield valuable insights

Already a subscriber?
Log in to your digital subscription.

Purchase the October issue.

Subscribe to
The CenterWatch Monthly.

The CenterWatch Monthly

September

Sponsors look to collaborate on comparator drugs
Co-therapies, comparators are in 60% of studies, cost $25m per company a year

Early adopters implement risk-based monitoring pilot programs
Experiments aim to offer long-term solutions, despite short-term uncertainties

Already a subscriber?
Log in to your digital subscription.

Purchase the September issue.

Subscribe to
The CenterWatch Monthly.

JobWatch centerwatch.com/jobwatch

Featured Jobs

More Jobs

 

Copyright © 1995-2013 CenterWatch.