Boehringer and Sanofi swap deal largely completed

Confirmation was announced today (January 2) that the strategic transaction signed in June 2016, which consists of an exchange of French pharma major Sanofi's (Euronext: SAN) animal health business Merial (valued at around $13.53 billion) and German peer Boehringer Ingelheim's consumer healthcare (CHC) business (valued at $7.98 billion), 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, the companies noted.

Olivier Brandicourt, chief executive 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."