01.29.10
Sanofi-aventis, Paris, France, has signed an agreement with Minsheng Pharmaceutical Co., Ltd to form a new consumer healthcare joint venture in China. Subject to certain conditions and regulatory approvals, sanofi-aventis is to obtain a majority equity stake in the new venture.
The intended joint venture will primarily focus on vitamins and mineral supplements, the largest consumer healthcare segment in China, where Minsheng has established a strong presence with its flagship multivitamin brand of 21 Super-Vita.
Globally, sanofi-aventis is the fifth largest consumer healthcare company, and the French group continues to expand its presence through mergers and acquisitions. Most recently, sanofi-aventis announced its planned acquisition of Chattem Inc., a leading manufacturer and marketer of branded consumer healthcare products, toiletries and dietary supplements in the U.S.
“We are pleased to take a significant step toward establishing the new consumer healthcare joint venture with Minsheng, our long-standing partner,” said Hanspeter Spek, president, Global Operations, sanofi-aventis. “Combined with our leadership position in vaccines, we will continue to contribute to preventative healthcare in China. Entering the world’s second largest consumer healthcare market is also a strategic move for sanofi-aventis to consolidate its position in consumer healthcare.”
“We are equally excited about the prospect of forming the new consumer healthcare joint venture with sanofi-aventis, after more than 10 years of successful partnership,” said Zhu Fujiang, chairman of Minsheng Pharmaceutical Co., Ltd.