According to a February 2021 report by Pharma Intelligence , as part of a global drive, Sanofi is looking to sell 150 OTC brands in a radical overhaul of its consumer healthcare operations
The past few years has seen several multi national pharmaceutical companies come to India looking to make acquisitions. One such company is Sanofi-Aventis who's chief executive officer Chris Viehbacher believes 'India is one of the most exciting countries in the world at this stage.'
Sanofi group company Aventis Pharma has entered into an agreement to acquire Universal Medicare's business of marketing and distribution of nutraceutical formulations in India.
Aventis Pharma is going to acquire Universal Medicare's Nutraceutical business in India, reports CNBC-TV18, quoting agencies. It touched an intraday high of Rs 2,160 and an intraday low of Rs 2,080.10. At 09:22 hrs the share was quoting at Rs 2,139.95, up Rs 97.00, or 4.75% on the NSE.
Aventis Pharma, a unit of French drugmaker Sanofi, is close to buying the over-the-counter business of unlisted Universal Medicare for about Rs 5 billion (USD 109.5 million), two sources with direct knowledge of the development said on Tuesday.