Aventis Pharma completes Universal Medicare acquisition
The deal will see Aventis Pharma expand its operations in India.
Merger and acquisition consultants may have been used by Aventis Pharma to complete a deal for Universal Medicare Private.
The former - an arm of French pharmaceutical company Sanofi - is looking to expand its base in India with the purchase of the latter.
Antoine Ortoli, senior vice-president of the intercontinental region and global operations at Sanofi, noted the agreement "reinforces our commitment to invest and grow our presence in India through a diversified portfolio that is focused on patients' needs".
Some negotiation skill may have been required in order to seal the deal, which will be confirmed in the fourth quarter of 2011 should regulatory approval be given.
Shailesh Ayyangar, managing director of Aventis Pharma, remarked the group can offer a broad range of products "comprising of pharmaceuticals, vaccines and now nutraceuticals".
At present, Sanofi deals in seven major therapy areas, which include thrombosis, vaccines, oncology, metabolic disordes and internal medicine.
Posted by David Gleck