French pharmaceutical company Ipsen has signed an agreement to acquire five consumer healthcare products in certain European territories from Sanofi for €83m.
The significant product to be acquired is an analgesic known as Prontalgine, which will be used to treat moderate-to-severe pain that has increased over the last four years.
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Ipsen CEO David Meek said: “This tactical bolt-on transaction resulting from the European Commission’s requirement to divest certain assets from the Sanofi / Boehringer Ingelheim consumer healthcare deal strengthens our consumer healthcare portfolio in France with the addition of Prontalgine.
“The opportunity immediately improves the profitability profile of Ipsen’s primary care business. It adds a limited portfolio of well-established and market leading brands in a key market such as France.”
As part of the agreement, Ipsen will also acquire Buscopan, an antispasmodic; Suppositoria Glycerini, a laxative; and Mucothiol and Mucodyne, expectorants for cough and flu.
These regional brands jointly cover a geographic scope of eight countries in Europe, while manufacturing will be provided by third parties.
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By GlobalDataIpsen Primary Care executive vice-president Jean Fabre said: “With these new assets, the primary care business expands its OTx portfolio and enhances its value proposition to consumers.
“The products are fully synergistic with our existing infrastructure, and the key asset Prontalgine, a well-established and growing market player for pain management in France with mid-30% market share, will help us achieve a critical mass at the pharmacy level, accelerating the development of our consumer healthcare business.”
Subject to customary closing conditions, including the European Commission’s approval, the transaction is expected to close in the second quarter of this year and will be financed completely by Ipsen’s existing cash and lines of credit.
