French pharmaceutical company Sanofi said on Monday it had agreed to sell 16 European consumer health brands to Germany’s Stada to streamline its product portfolio.
Stada said in a statement that the purchase of brands, including Mitosyl ointment, Silomat cough remedies, and Frubiase supplements, would boost the German company’s regional sales network in Europe, after a similar deal with GlaxoSmithKline last year.
The two companies did not disclose financial terms, but a person familiar with the deal said the price ranged between 120 and 140 million euros ($144 to $168 million).
Sanofi Pharmaceuticals said it will prioritize fast-growing consumer health care (CHC) brands as the consumer division prepares to become a standalone business.
“Simplifying the CHC product portfolio is an important part of our strategy to focus our resources and efforts where we can create the most value,” said Julie van Ongevalle, president of Sanofi’s consumer health care unit, in a statement Monday.
