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Sanofi, Boehringer Ingelheim Agree to $25 Billion Asset Swap



Sanofi agreed to a 22.8 billion-euro ($25.1 billion) asset swap with Germany’s Boehringer Ingelheim GmbH that will bolster the French drugmaker’s business in selling over-the-counter drugs.

The companies reached a definitive agreement after announcing exclusive negotiations in December, they said in a statement Monday. The terms are unchanged from the original announcement: Sanofi will trade its Merial animal-health business, valued at 11.4 billion euros, for Boehringer’s 6.7 billion-euro consumer-health operation. Closely held Boehringer will also pay Sanofi 4.7 billion euros in cash.


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