Sanofi and Boehringer Ingelheim are said to be in talks regarding a $20 billion swap of Sanofi's animal health business for BI's consumer health division.
The deal would include an exchange of Sanofi's Merial arm, with an enterprise value of $12.6 billion, with Boehringer's consumer health division, worth 6.7 billion, according to a Reuters article. Boehringer would also pay 4.7 billion euros in cash to Sanofi.
“In entering into exclusive negotiations with Boehringer Ingelheim, we have acted swiftly to meet one of the key strategic objectives of our roadmap 2020, namely to build competitive positions in areas where we can achieve leadership. This transaction would allow Sanofi to become a world leader in the attractive non-prescription medicines market and would bring a complementary portfolio with highly recognized brands, allowing for mid and long term value creation,” said Olivier Brandicourt, M.D., CEO, Sanofi.
The deal would move Sanofi into the number one position in consumer healthcare, and Boehringer would become the world's second-largest animal health company.
Read the full story
