{"id":149943,"date":"2016-06-27T20:49:32","date_gmt":"2016-06-27T10:49:32","guid":{"rendered":"http:\/\/southburnett.com.au\/news2\/?p=149943"},"modified":"2020-10-12T12:02:48","modified_gmt":"2020-10-12T02:02:48","slug":"drug-companies-sign-contracts","status":"publish","type":"post","link":"https:\/\/southburnett.com.au\/news2\/2016\/06\/27\/drug-companies-sign-contracts\/","title":{"rendered":"Drug Companies Sign Contracts"},"content":{"rendered":"
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Boehringer Ingelheim chairman Prof Andreas Barner<\/figcaption><\/figure>\n

June 27, 2016<\/strong><\/p>\n

Multinational pharmaceutical giants Sanofi and Boehringer Ingelheim announced on Monday they have signed contracts, a significant milestone towards the planned “swap” of the French and German companies’ animal health and consumer health care arms.<\/p>\n

When the deal is completed – expected at the end of 2016 – Boehringer Ingelheim\u2019s consumer health care business will be transferred to Sanofi, and Sanofi\u2019s subsidiary Merial will be transferred to Boehringer Ingelheim.<\/p>\n

Sanofi would integrate Boehringer Ingelheim\u2019s consumer health care business in all countries except China.<\/p>\n

The transaction includes a cash payment to Sanofi of almost $AUD 7 billion to reflect the difference in value of the two businesses.<\/p>\n

\u201cThis is a win for Boehringer Ingelheim and Sanofi alike,” Boehringer Ingelheim chairman Prof Andreas Barner said.<\/p>\n

“Moreover, it is one of the most significant steps in our corporate history. It demonstrates the consistent orientation of our business towards innovation-driven sectors.<\/p>\n

“As a research-based pharmaceutical company, we will substantially enhance our position in the future market for animal health and will prospectively be one of the largest global players in this segment.”<\/p>\n

Boehringer Ingelheim\u2019s consumer healthcare business includes the brands Buscopan, Dulcolax, Pharmaton, Mucosolvan and Bisolvon.<\/p>\n

Merial’s animal health products include Frontline, Heartgard, NexGard, Broadline, Purevax, Vaxxitek, Eprinex, Ivomec, Longrange, Circovac and GastroGard.<\/p>\n

Footnote: Buscopan is manufactured from an alkaloid extracted from duboisia grown in the South Burnett. However, a Boehringer Ingelheim spokesman has previously told southburnett.com.au the company\u2019s operations in Kingaroy would not be affected by the transaction.<\/strong><\/p>\n