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Tuesday, April 23, 2024

Sanofi Sells 16 Consumer Health Brands to Stada for 140 Million Euro

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.

HBC Editors
HBC Editorshttp://www.healthcarebusinessclub.com
HBC editors are a group of healthcare business professionals from diversified backgrounds. At HBC, we present the latest business news, tips, trending topics, interviews in healthcare business field, HBC editors are expanding day by day to cover most of the topics in the middle east and Africa, and other international regions.

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