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India: $25bn asset swap approved

By  |  September 26, 2016

On Monday, India’s antitrust regulator approved swapping of the animal health and consumer healthcare businesses between French drugmaker Sanofi and Germany-based Boehringer Ingelheim GmbH (BI) in a deal worth $25 billion.

With the asset swap, Sanofi is set to become the global leader in the sale of over-the-counter medicines, with 4.6% of the world’s consumer healthcare market.

The approval by the Competition Commission of India (CCI) is part of the local regulatory clearances required for the global asset swap between the two companies announced in June. Sanofi is set to acquire BI’s non-prescription drugs business (except for in mainland China) and BI will take over the French company’s animal health unit Merial.

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