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Article: Sanofi-Aventis to acquire Indian vaccine company
- Article from:
- AP Online
- Article date:
- July 27, 2009
CopyrightCopyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. (Hide copyright information)
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French pharmaceutical company Sanofi-Aventis SA said Monday it has agreed to acquire a controlling stake in Indian vaccine maker Shantha Biotechnics Ltd. for an undisclosed amount.
The deal valued the Hyderabad-based Shantha at ??550 million ($783 million), Sanofi-Aventis said in a statement.
Under the terms of the agreement, the vaccines division Sanofi Pasteur will buy ShanH, a holding company that controls 80 percent of Shantha Biotechnics, from French biotechnology firm Merieux Alliance. The deal is expected to be completed by the end of the third quarter.
"Shantha provides Sanofi Pasteur with a ...