Sanofi Divests 16 Consumer Health Brands To Stada
- Amid a reorganization scheme aimed at slashing costs and prioritizing blockbuster immunology Dupixent, Sanofi SA (NASDAQ: 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.
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