Global healthcare leader Sanofi- Synthelabo (India) and German pharmaceutical firm Boehringer Ingelheim today said they have closed business swap which involves an exchange of over 80 brands between the two companies in India.
The closing of swap deal was for the exchange of Sanofi's animal health business and Boehringer Ingelheim's consumer healthcare (CHC) business in the country, a release said here.
It involves an exchange of over 80 brands between the two companies in India.
"With the successful closure of the swap deal in India, both companies have achieved a major landmark. This swap of the consumer healthcare business of Boehringer Ingelheim and Sanofi's Animal Health business will facilitate both companies to pursue their respective strategic aspirations," said Sanofi India Managing Director and Vice- President - South Asia, Shailesh Ayyangar.
Sanofi, he said, is excited to embrace the incoming CHC brands and people associated with this business, as this is in line with the company's stated objective of boosting its presence in consumer healthcare in India.
"We also know that our animal health business and people associated with it will now be part of a highly committed and focused Boehringer," he added.
"The closing of the business swap between Boehringer Ingelheim and Sanofi in India is a significant milestone for both the organisations. Through this strategic transaction, we further strengthen our commitment towards providing greater value to our customers," Boehringer Ingelheim India Managing Director Sharad Tyagi said.
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