Sanofi and Boehringer Ingelheim confirm Closing of business swap on January 1st 2017
(Thomson Reuters ONE) -
Sanofi and Boehringer Ingelheim confirm Closing of
business swap on January 1st 2017
- Both companies will become global leaders in two different sectors of the
pharmaceutical market -
Paris (France) and Ingelheim (Germany)- 2(nd) January 2017 - 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.
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."
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."
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.
Contacts Sanofi:
Media Relations Investor Relations
Coralie Savin George Grofik
Tel. : +33 (0)1 53 77 46 46 Tel.: +33 (0)1 53 77 45 45
mr(at)sanofi.com ir(at)sanofi.com
Contact Boehringer Ingelheim:
Media Relations
Dr Ralph Warsinsky
Tel: + 49 6132 77 7051
Mobile : +49 178 290 8561
press(at)boehringer-ingelheim.com
Press release (PDF):
http://hugin.info/152918/R/2068202/776642.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Sanofi via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 02.01.2017 - 07:00 Uhr
Sprache: Deutsch
News-ID 515376
Anzahl Zeichen: 8844
contact information:
Town:
PARIS
Kategorie:
Business News
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