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| Name | Symbol | Market | Type |
|---|---|---|---|
| Sanofi | NASDAQ:SNY | NASDAQ | Depository Receipt |
| Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.24 | 0.49% | 49.57 | 49.54 | 50.74 | 49.82 | 49.3481 | 49.42 | 1,243,281 | 01:00:00 |
From May 2019 to May 2024
By Inti Landauro
PARIS--French pharmaceutical giant Sanofi (SAN.FR) agreed to sell a portfolio of five drugs in Europe to smaller local rival Ipsen (IPN.FR) for 83 million euros ($88 million) to help pave the way for Sanofi to take over certain assets from Germany's Boehringer Ingelheim GmbH.
Under the deal, Ipsen will buy the rights to market an analgesic, an antispasmodic, a laxative and two expectorants in eight European countries, though the manufacturing will be provided by third parties, the company said Monday in a news release.
Ipsen said it would finance the acquisition with its existing cash and lines of credit.
The asset sale is a result of requirements imposed by the European Commission in connection with Sanofi's deal to exchange its animal-health business for most of Boehringer Ingelheim's consumer health-care unit.
Ipsen said it would finance the acquisition of the Sanofi assets with its own cash.
Write to Inti Landauro at inti.landauro@wsj.com
(END) Dow Jones Newswires
February 13, 2017 02:13 ET (07:13 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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