Sanofi and Boehringer Ingelheim confirmed that the strategic transaction signed in June 2016, which includes 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 Jan. 1, 2017. 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.
Hubertus von Baumbach, chairman of the board of managing directors of Boehringer Ingelheim, 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...”
Olivier Brandicourt, M.D., CEO 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...”
Alan Main, executive VP 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.