Sanofi to acquire Symbion Consumer
21 Jul 2008
Sanofi-Aventis says it has agreed to acquire Symbion Consumer for A$560 million (£274 million).
It reports that Symbion Consumer manufactures and sells neutraceutical products such as vitamin and mineral supplements, plus over-the-counter brands, in Australia and New Zealand.
Sanofi states that the company is the market leader, having amassed sales valued at around A$190 million last year.
Olivier Charmeil, Sanofi's senior vice-president for pharmaceutical operations in Asia Pacific, says: "The purchase of Symbion Consumer provides Sanofi-Aventis in Australia with a leading market-share in a rapidly-growing category."
He adds that the acquisition will create a "platform to launch a nutraceutical offering throughout the Asia-Pacific region".
Last week, Sanofi-Aventis signed a three-year agreement with the Johns Hopkins University School of Medicine in Baltimore to jointly develop novel treatments for respiratory diseases.
The collaboration will primarily focus on chronic obstructive pulmonary disease and severe asthma, as well as immuno-allergic conditions.
