Sanofi-Aventis agrees to purchase Symbion Consumer

Sanofi-Aventis has announced it is to buy Symbion CP Holdings Pty Limited in Australia from Primary Health Care Limited.

Symbion Consumer manufactures and sells vitamin and mineral supplements across Australia and New Zealand.

Its brands include Cenovis, Natures Own, Golden Glow, Microgenics and Bio-organics.

In 2007, Symbion Consumer recorded sakes of approximately A$190 million (93 million pounds).

The group is the market leader with about 21 per cent of the market share and the deal is valued at A$560 million.

Subject to certain conditions, the transaction is expected to be completed at the end of August.

Commenting on the deal, senior vice president of pharmaceutical operations in Asia Pacific at Sanofi-Aventis Olivier Charmeil said: “The acquisition will sustain Sanofi-Aventis Australia growth through products portfolio widening, increased pharmacy presence and access to new channels ? and will create strong synergies with our existing pharmaceutical activities.”

Earlier this month, Sanofi-Aventis announced the termination of its development and commercialisation agreement with Taiho Pharmaceutical for the oral anti-cancer agent S-1.