Financial details of the transaction that covers registrations, trademarks and related commercial rights across Europe and a portfolio comprised of cold and flu medications along with skincare and food supplement brands were not disclosed. The deal is expected to complete in this year’s third quarter, subject to regulatory approval and other customary closing conditions.
Sales of the consumer drugs that will change hands are concentrated in 13 countries, led by France, Germany, Italy, Poland and Spain. Sanofi said it does not believe the divestment will have any effect on its Europe-based workforce.
The sell-off is part of a Sanofi reorganization scheme aimed at cutting costs and prioritizing its immunology blockbuster Dupixent, along with vaccines. “As discussed during our Capital Markets Day in February, simplifying the CHC product portfolio is an important part of our strategy to focus our resources and efforts where we can bring the most value, especially to consumers,” said Julie Van Ongevalle, executive vice president of Sanofi and head of Consumer Healthcare.
Stada, which has annual sales of around €3 billion and adjusted EBITDA of €713 million, said the portfolio upgrade makes it a top-five player in Europe’s consumer healthcare market, supports its growth acceleration and is “another proof point of the company as a go-to-partner.” Its business rests on a three-pillar strategy of generics, specialty pharma and non-prescription consumer healthcare products.
Author: Dede Williams, Freelance Journalist
