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Acquisition boosts Sanofi's US consumer healthcare profile
December 23, 2009.
Sanofi-Aventis is to buy US consumer health company Chattem in a $1.9 bn (Euro 2.71 bn) cash deal, according to a report in the UK Financial Times. Chattem sells products such as Icy Hot cream and Selsun Blue anti-dandruff shampoo; the acquisition will provide the French company with “the ideal platform in the US consumer healthcare market,” according Sanofi boss Chris Viehbacher.
Sanofi will pay $93.50 (Euro 133.71) a share for Chattem; the offer was at a 34 per cent premium to Chattem’s closing stock price on Friday 18th December. The US company’s shares leapt 32.8 per cent to $92.94 in midday trading.
The deal is expected to close in the first quarter of 2010. Sanofi will retain Chattem’s two manufacturing plants in Tennessee, US, and also build a third.
Fierce Females in the Life Science Space
March 29th 2024In this week’s episode, in recognition of international women’s month, Editor Miranda Schmalfuhs has compiled audio clips from interviews with female KOLs that she's been fortunate enough to speak with over this past month for content across a few of our brands.
