Sanofi’s Aventis Pharma to purchase Universal Medicare business unit

Sanofi has announced that its Aventis Pharma division is to purchase the Indian branded nutraceutical formulations division of Universal Medicare.

The transaction has been approved by the directors of both companies and is expected to close in the fourth quarter of 2011, with around 750 members of staff to make the transition across.

By purchasing this unit, Aventis Pharma will be supporting the overall growth strategy of the Sanofi group by establishing a promising new consumer healthcare and wellness platform.

It will also add more than 40 branded formulations to its portfolio, including antioxidants, vitamins and mineral supplements, anti-arthritics and anti-osteoporotics.

Antoine Ortoli, senior vice-president for global operations in the intercontinental region at Sanofi, said: "This acquisition reinforces our commitment to invest and grow our presence in India through a diversified portfolio that is focused on patients' needs."

Last month, Sanofi published its financial report for the second quarter of 2011, during which it experienced year-on-year growth following the recent acquisition of Genzyme.