Sanofi Aventis ‘cleared to acquire Zentiva’

Sanofi Aventis has received European commission approval to acquire Zentiva, according to the company.

The company’s offer of 1,170 Czech koruny (36.84 pounds) in cash per share has also been approved by Zentiva’s shareholders who have until the expiry date of February 20th to tender the shares.

If the organisation’s bid to purchase 10,339,203 shares is successful, it would terminate Zentiva’s listings on the Prague and London stock exchanges.

Sanofi Aventis said it is committed to the expansion of its presence in emerging markets, “that are characterised by high growth, low and medium disposable income and affordable pharmaceutical products”.

The firm added the acquisition of Zentiva presents “an exceptional opportunity to accelerate this strategy” in central and eastern European markets.

In December, Sanofi Aventis announced it had signed a licensing and collaboration agreement with Novozymes.

The partnership will jointly develop and market the NZ2114 drug substance, as part of creating a new antibiotic.