Sanofi claims victory in battle for Zentiva

2 March 2009

French drug major Sanofi-Aventis says its bid to gain a controlling stake in Czech generics firm Zentiva (Marketletters passim) has been successful. Following the satisfaction of European Commission anti-trust terms, Sanofi acquired 70% of the outstanding shares of the Czech firm for 1.8 billion euros ($2.3 million), bringing its interest in the company to 94% of all outstanding stock. The French company believes that the deal makes it the 11th-biggest generics manufacturer in the world.

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Chairman, Sanofi Aventis UK