Sanofi and Boehringer Ingelheim form agreement

Sanofi and Boehringer Ingelheim (BI) recently formed a definitive agreement to swap the animal health branch of Sanofi and the consumer health care branch of Boehringer Ingelheim.

This agreement is a significant milestone for the two companies. They have scheduled a closure for the transaction by the end of this year. The agreement is still subject to approval from the regulatory authorities in several territories.

“This is a win for Boehringer Ingelheim and Sanofi alike,” Dr. Andreas Barner, chairman of the board of Boehringer Ingelheim, said. “Moreover, it is one of the most significant steps in our corporate history. It demonstrates the consistent orientation of our business towards innovation-driven sectors. As a research-based pharmaceutical company, we will substantially enhance our position in the future market for animal health and will prospectively be one of the largest global players in this segment. The similarity in culture and approaches of BI and Sanofi will ensure that the businesses acquired by the other partner will develop well in the future.”

Both of these companies are expected to grow into worldwide leaders within their two separate divisions of the pharmaceutical market.

“In signing these contracts, we are meeting one of the key strategic goals of our roadmap 2020, namely to become a leader in consumer health care and a leading diversified global human health care company,” Dr. Olivier Brandicourt, CEO of Sanofi, said. “This business swap will bring a complementary portfolio to our consumer health care activity with highly recognized brands, allowing for mid- and long-term value creation, and enhancement of our market penetration in some major countries.”