Sanofi Aventis to Buy Chattem

Dec. 21, 2009
Merger will create the world's fifth largest consumer health company

French pharmaceutical group Sanofi-Aventis said Dec. 21 it was to acquire Chattem of the U.S. for $1.9 billion, creating the world's fifth largest consumer health care company.

"The acquisition of Chattem will be a significant milestone in Sanofi-Aventis' transformation strategy and will provide us with the ideal platform in the U.S. healthcare market, which represents 25% of the current worldwide opportunity," said Sanofi-Aventis chief executive Christopher Viehbacher.

Chattem, founded 130 years ago, is "a leading manufacturer and marketer of branded consumer healthcare products, toiletries and dietary supplements ... in the United States," a joint statement said. Its brands include itch relief cream Cortizone-10 and Selsun Blue dandruff shampoo.

The companies expecting the deal to be completed in the first quarter of 2010.

Copyright Agence France-Presse, 2009

Popular Sponsored Recommendations

Empowering the Modern Workforce: The Power of Connected Worker Technologies

March 1, 2024
Explore real-world strategies to boost worker safety, collaboration, training, and productivity in manufacturing. Emphasizing Industry 4.0, we'll discuss digitalization and automation...

3 Best Practices to Create a Product-Centric Competitive Advantage with PRO.FILE PLM

Jan. 25, 2024
Gain insight on best practices and strategies you need to accelerate engineering change management and reduce time to market. Register now for your opportunity to accelerate your...

Transformative Capabilities for XaaS Models in Manufacturing

Feb. 14, 2024
The manufacturing sector is undergoing a pivotal shift toward "servitization," or enhancing product offerings with services and embracing a subscription model. This transition...

Shifting Your Business from Products to Service-Based Business Models: Generating Predictable Revenues

Oct. 27, 2023
Executive summary on a recent IndustryWeek-hosted webinar sponsored by SAP

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!