Deals
Sanofi to Buy Indian Nutraceutical Unit; Terms Not Disclosed
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Sanofi agreed to buy a unit of India’s Universal Medicare Ltd. that makes branded health and nutrition treatments as the French drugmaker tries to increase sales from non-prescription products.
The boards of both companies have approved the deal, which is expected to close in the fourth quarter of this year subject to conditions, Sanofi’s Aventis Pharma Ltd. unit said in a statement on its website today, without specifying the conditions. The purchase price is about 5 billion rupees ($109 million), Reuters reported, citing two people with direct knowledge of the matter.