Boehringer and Sanofi swap deal largely completed

2 January 2017

Confirmation was announced today (January 2) that the strategic transaction signed in June 2016, which consists of an exchange of French pharma major Sanofi's (Euronext: SAN) animal health business Merial (valued at around $13.53 billion) and German peer Boehringer Ingelheim's consumer healthcare (CHC) business (valued at $7.98 billion), has been successfully closed in most markets on January 1st 2017.

This closing marks the successful outcome of the business swap which started with exclusive negotiations in December 2015. The closing of the acquisition of Merial in Mexico and the Merial and CHC swap in India have been delayed pending receipt of certain regulatory approvals but both are expected to close early 2017, the companies noted.

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