On June 28, 2021 Sanofi’s ongoing efforts to reduce the complexity of its Consumer Healthcare portfolio and accelerate its growth trajectory, reported that it has signed an agreement with STADA for the divestiture of 16 Consumer Healthcare products commercialized in Europe (Press release, Sanofi, JUN 28, 2021, View Source [SID1234584391]). The transaction with STADA ensures that these products will continue to be available to consumers.

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"As discussed during our Capital Markets Day in February, simplifying the CHC product portfolio is an important part of our strategy to focus our resources and efforts where we can bring the most value, especially to consumers. We are pleased these products will continue to be available for consumers as we focus on becoming a fully integrated standalone business" said Julie Van Ongevalle, Executive Vice-President, Sanofi and Head of Sanofi Consumer Healthcare.

The agreement covers the registrations, trademarks, and related commercial rights of 16 products across Europe.

"This acquisition further strengthens STADA as a top-five player in Europe’s consumer healthcare market, supports our growth acceleration, and is another proof point of STADA as a go-to-partner," commented STADA’s CEO, Peter Goldschmidt.

Sanofi does not anticipate any impact of this divestiture to its European-based workforce.

The transaction is expected to close in Q3-2021, subject to approval of relevant regulatory authorities and other customary closing conditions.