Boehringer Ingelheim offers concession to EU for its $25-bn asset swap with Sanofi
09 Jul 2016
Family-owned German pharmaceutical group Boehringer Ingelheim has offered concessions to the European regulator in order to get antitrust approval for its $25 billion asset swap with France's Sanofi.
In late June, Sanofi agreed to swap its €11.4 billion Merial animal-health business for Boehringer's €6.7 billion consumer-health operation excluding China, and Boehringer will offset the price difference by paying Sanofi €4.7 billion in cash.
The European Commission (EC) will review if the two companies swapping their businesses will cause any adverse impact on competition and delayed its decision until 13 July to seek feedback from third parties.
Both companies have also filed with the Competition Commission of India for local regulatory clearances.
Sanofi and Boehringer Ingelheim have substantial businesses in India in the animal health and consumer health products segments.
In 2012, Sanofi's Merial entered the animal health sector in India by acquiring Mumbai-based Dosch Pharma.
The deal gave it Dosch's 86 products under 50 brands for ruminants, poultry and companion animals, 279-member team and the pan-India sales network.
In March, Merial entered into an exclusive marketing and distribution agreement with Zoetis to market and sell Zoetis' products, including global/local brands such as Bovical, Lutalyse, Xnel Dectomax and vaccines like Rispoval and Spirovac.
In India, Merial has a diversified local portfolio of over 50 brands comprising of vaccines, therapeutics and nutritional products for ruminants, poultry and pets.
In 2014, oehringer Ingelheim stopped its marketing partnership with Ahmedabad-based Zydus Cadila for two gastrointestinal brands Buscopan and Dulcolax, and re-launched these as Buscogast and Dulcoflex.
It also formed a strategic alliance with Lupin to co-market anti-diabetes drug linagliptin in India.
.webp)
