Asset-swap deal sealed

Source: Xinhua | 2017-01-04

GERMANY’S Boehringer Ingelheim said it has officially completed the merger of its animal health care business with France-based Sanofi’s Merial as global pharmaceutical giants focus on core businesses while divesting loss-making units.

The two firms said in June last year they agree to an asset-swap deal where Sanofi would sell Merial, valued at 11.4 billion euros (US$11.9 billion), to Boehringer Ingelheim, whilst it would buy Boehringer’s consumer health care division, valued at 6.7 billion euros, and 4.7 billion euros in cash.