Boehringer, Sanofi Close Deal As FTC Orders Divestitures

Law360, New York (January 3, 2017, 2:13 PM EST) -- German pharmaceutical company Boehringer Ingelheim GmbH and French pharmaceutical company Sanofi SA on Monday announced that they have closed their €23 billion ($25.2 billion) asset swap, days after the Federal Trade Commission ordered Boehringer to divest five of its animal health products to fix competition problems with the deal.

Boehringer and Sanofi confirmed that the deal — in which Boehringer will swap its consumer health care business for Sanofi's animal health business Merial — has been successfully closed in most markets, five days after the FTC ordered Boehringer to divest its companion animal vaccines to Eli Lilly and Co. and the company's...

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