Sanofi Agreess to Sell Five-Drug European Portfolio to Ipsen for EUR83 Million
February 13 2017 - 2:28AM
Dow Jones News
By Inti Landauro
PARIS--French pharmaceutical giant Sanofi (SAN.FR) agreed to
sell a portfolio of five drugs in Europe to smaller local rival
Ipsen (IPN.FR) for 83 million euros ($88 million) to help pave the
way for Sanofi to take over certain assets from Germany's
Boehringer Ingelheim GmbH.
Under the deal, Ipsen will buy the rights to market an
analgesic, an antispasmodic, a laxative and two expectorants in
eight European countries, though the manufacturing will be provided
by third parties, the company said Monday in a news release.
Ipsen said it would finance the acquisition with its existing
cash and lines of credit.
The asset sale is a result of requirements imposed by the
European Commission in connection with Sanofi's deal to exchange
its animal-health business for most of Boehringer Ingelheim's
consumer health-care unit.
Ipsen said it would finance the acquisition of the Sanofi assets
with its own cash.
Write to Inti Landauro at inti.landauro@wsj.com
(END) Dow Jones Newswires
February 13, 2017 02:13 ET (07:13 GMT)
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