Sanofi Unit Snaps Up Indian OTC Business For $109M

Law360, New York (August 24, 2011, 2:51 PM EDT) -- Sanofi SA unit Aventis Pharma Ltd. said Wednesday it will buy Mumbai-based Universal Medicare Private Ltd.'s over-the-counter nutrition business for a reported $109 million, a deal that gives the French pharmaceutical giant a manufacturing presence in India.

Aventis did not disclose the purchase price of Universal Medicare but, citing an unnamed source, the Hindustan Times said the deal was valued at 5 billion rupees ($108.8 million).

The purchase comes as multinational pharmaceutical giants are seeing increased value in over-the-counter business in emerging economies.

For example, in...
To view the full article, register now.