- Both companies will become global leaders in two different
sectors of the pharmaceutical market -
Company Website:
http://www.boehringer-ingelheim.com
PARIS & INGELHEIM, Germany -- (Business Wire)
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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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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170101005024/en/
Contacts:
Sanofi:
Media Relations
Coralie Savin, +33 (0)1
53 77 46 46
mr@sanofi.com
or
Investor
Relations
George Grofik, +33 (0)1 53 77 45 45
ir@sanofi.com
Boehringer
Ingelheim:
Media Relations
Dr Ralph Warsinsky, + 49
6132 77 7051
Mobile: +49 178 290 8561
press@boehringer-ingelheim.com
Source: Boehringer Ingelheim
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