Sanofi Agreess to Sell Five-Drug European Portfolio to Ipsen for EUR83 Million

By Inti Landauro

PARIS--French pharmaceutical giant Sanofi (SAN.FR) agreed to sell a portfolio of five drugs in Europe to smaller local rival Ipsen (IPN.FR) for 83 million euros ($88 million) to help pave the way for Sanofi to take over certain assets from Germany's Boehringer Ingelheim GmbH.

Under the deal, Ipsen will buy the rights to market an analgesic, an antispasmodic, a laxative and two expectorants in eight European countries, though the manufacturing will be provided by third parties, the company said Monday in a news release.

Ipsen said it would finance the acquisition with its existing cash and lines of credit.

The asset sale is a result of requirements imposed by the European Commission in connection with Sanofi's deal to exchange its animal-health business for most of Boehringer Ingelheim's consumer health-care unit.

Ipsen said it would finance the acquisition of the Sanofi assets with its own cash.

Write to Inti Landauro at inti.landauro@wsj.com

(END) Dow Jones Newswires

February 13, 2017 02:13 ET (07:13 GMT)

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