Sanofi and Boehringer Ingelheim confirm Closing of business swap

Boehringer IngelheimSanofi and Boehringer Ingelheim confirmed that the strategic transaction signed in June 2016, which consists of an exchange of Sanofi's animal health business (Merial) and Boehringer Ingelheim's consumer healthcare (CHC) business, has been successfully closed in most markets on January 1st 2017. This closing marks the successful outcome of the business swap which started with exclusive negotiations in December 2015. The closing of the acquisition of Merial in Mexico and the Merial and CHC swap in India have been delayed pending receipt of certain regulatory approvals but both are expected to close early 2017.

The Chairman of the Board of Managing Directors of Boehringer Ingelheim, Hubertus von Baumbach, said: "This important achievement is the result of a mutually beneficial agreement implemented in the spirit of a shared vision. Driven by the desire to serve the needs of our customer, and enabled by value of our innovative product portfolio, the combined strength of the two organizations will improve Boehringer Ingelheim's competitiveness in the Animal Health business segment that is so strategically important to our company. We are delighted to welcome the employees of Merial to our team."

Olivier Brandicourt, M.D., Chief Executive Officer of Sanofi, stated: "With this successful closing of the business swap with Boehringer Ingelheim, Sanofi is building a strong and innovative CHC Global Business Unit. The integration of Boehringer Ingelheim’s highly skilled CHC team and its well established products, allows Sanofi to enhance our positions in core strategic categories in a promising CHC market. Indeed this market serves the growing expectations of consumers to be more in control of their own health and wellness."

Over the last months, Sanofi and Boehringer Ingelheim have diligently prepared for the integration of the businesses and employees as of the first day under new ownership. In the interest of all customers and to ensure uninterrupted business continuity, it is both companies’ priority to achieve a smooth integration of the transferred businesses.

Alan Main, Executive Vice President Consumer Healthcare and member of Sanofi's Executive Committee, will ensure Sanofi’s CHC business including the former Boehringer Ingelheim CHC brands will continue on its growth path. The Boehringer Ingelheim Animal Health business unit will be headed by Dr. Joachim Hasenmaier who will remain as Member of the Boehringer Ingelheim Board of Managing Directors.

About Sanofi
Sanofi, a global healthcare leader, discovers, develops and distributes therapeutic solutions focused on patients' needs. Sanofi is organized into five global business units: Diabetes and Cardiovascular, General Medicines and Emerging Markets, Sanofi Genzyme, Sanofi Pasteur and Consumer Healthcare. Sanofi is listed in Paris (EURONEXT: SAN) and in New York (NYSE: SNY).

About Boehringer Ingelheim
Boehringer Ingelheim is one of the world’s 20 leading pharmaceutical companies. Headquartered in Ingelheim, Germany, Boehringer Ingelheim operates globally through 145 affiliates and a total of some 50,000 employees. The focus of the family-owned company, founded in 1885, is on researching, developing, manufacturing and marketing new medications of high therapeutic value for human and veterinary medicine.

Social responsibility is an important element of the corporate culture at Boehringer Ingelheim. This includes worldwide involvement in social projects through, for example, the initiative "Making More Health" while also caring for employees. Respect, equal opportunity and reconciling career and family form the foundation of mutual cooperation. The company also focuses on environmental protection and sustainability in everything it does.

In 2015, Boehringer Ingelheim achieved net sales of about 14.8 billion euros. R&D expenditure corresponds to 20.3 per cent of net sales.

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