Sanofi and Boehringer Ingelheim to swap businesses

Sanofi and Boehringer Ingelheim have reached an agreement to swap parts of their business.

The swap, between Sanofi’s animal health business and Boehringer Ingelheim’s consumer healthcare business, was initiated in December 2015. The deal is expected to be completed by the end of 2016.

Andreas Barner, chair of the board of Boehringer Ingelheim, said: “This is a win for Boehringer Ingelheim and Sanofi alike. Moreover, it is one of the most significant steps in our corporate history.”

Olivier Brandicourt, chief executive of Sanofi, added: “This business swap will bring a complementary portfolio to our consumer healthcare activity with highly recognised brands, allowing for mid and long term value creation, and enhancement of our market penetration in some major countries.”