Sanofi Agrees to Sell Five Over-the-Counter Drugs to Ipsen
- 83 million-euro purchase includes painkiller Prontalgine
- Asset sale moves Sanofi closer to complete Boehringer deal
Arbidol capsules sit in sealed packets as they move along the production line at OAO Pharmstandard's Leksredstva drug manufacturing unit in Kursk, Russia, on Friday, Aug. 16, 2013. Pharmstandard said it will offer $590 million in cash and shares for Bever Pharmaceutical Pte. Ltd. in a deal that will give Pharmstandard board member Alexander Shuster an 18.7 percent stake in Russia's biggest drugmaker.
Photographer: Andrey Rudakov/BloombergSanofi agreed to sell some over-the-counter products to Ipsen SA as it edges closer to completing a 22.8 billion-euro ($24.2 billion) asset swap with Boehringer Ingelheim GmbH.
Ipsen will pay 83 million euros for five products including Prontalgine, a painkiller, the Paris-based company said in a statement Monday. Bloomberg previously reported the deal was close, citing a person familiar with the situation.