Sanofi Divests 16 Consumer Health Brands To Stada

by Vandana Singh, Benzinga Editor

June 28, 2021 2:16 PM | 1 min read | Make a Comment

Amid a reorganization scheme aimed at slashing costs and prioritizing blockbuster immunology Dupixent, Sanofi SA SNY will offload 16 consumer health products to Germany's Stada Arzneimittel.
Under the deal, which is expected to close in the third quarter, Stada will get its hands on the registrations, trademarks, and commercial rights for the products across 13 countries.
The companies didn't disclose financial details.
The portfolio covers cold and flu meds, skincare, and food supplement brands, Stada said in a release.
Sanofi doesn't expect the divestiture to take a toll on its European workforce.
Price Action: SNY shares are up 0.6% at $53.21 during the market session on the last check Monday.