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...Don Riker, a former Chattem executive who edits the industry publication OTC ProductNews, said: “This is probably a smart move on everybody’s part....
...One reason Sanofi bought Chattem, a US consumer health company, in 2009 was to acquire the expertise to switch its anti-allergy drug Allegra. Roche had gone in another direction....
...Since taking the helm at Sanofi just under two years ago, Mr Viehbacher paid $1.9bn for Chattem, maker of Selsun Blue shampoo, gaining a foothold in the US consumer health care market; and $4bn – his largest...
...The offer was at a 34% premium to Chattem’s closing stock price on Friday. See also FT Alphaville on the deal....
...UPDATE: John Gapper draws our attention to the fact that Chattem has a wonderful history of snake-oil type potions… Related links: Sanofi-Aventis to buy Chattem for $1.9bn – FT...
...Sanofi said it would keep the Tennessee-based Chattem’s two manufacturing plants in the US and build a third. Shares of Chattem jumped 32.8 per cent to $92.94 in midday trading....
...Since Mr Viehbacher took over at Sanofi, the group has paid $1.9bn for Chattem, a US consumer healthcare group, and paid $5bn to restructure and enlarge its animal health venture with Merck of the US....
...Luisa Hector, analyst at Credit Suisse, said: “The Chattem deal is in line with management’s strategy of small-medium size acquisitions....
...Meanwhile, French pharmaceutical company Sanofi Aventis rose 0.5 per cent to €55.65, continuing gains after announcing the acquisition of Chattem, the US consumer healthcare company....
...The French group’s $2bn takeover of US-based Chattem and its purchase of Czech group Zentiva and Kendrick in Latin America were typical of an industry trend for niche deals aimed at diversifying geographical...
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