Sanofi-Aventis is to acquire BMP Sunstone, making it a leading consumer healthcare company in the Chinese market.
The deal will see Sanofi-Aventis acquire all outstanding shares in Sunstone for $10 per share, equivalent to $520.6m on a fully diluted basis.
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Sunstone has access to retailers, county hospitals and community clinics in Tier III and Tier IV markets, while Sanofi-Aventis possesses a strong position in vitamin and mineral supplements and cough and cold medications, the two largest categories in the market.
The completion of the transaction is subject to approval by stockholders as well as the receipt of regulatory approvals in China.
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