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» 23/07/2009 [Company watch]
China Aoxing Pharmaceutical Corp. Receives Renewal of GMP Certification for Capsule Dosage Form of Pharmaceutical Products
» 15/03/2010 [Industry news]
Recordati S.p.A And Lee Pharmaceutical Announce Partnership For Zanidip(R) In China
» 26/10/2009 [Finance]
China Growth to Remain Fast in Fourth Quarter, Official Says
» 17/08/2009 [Industry news]
Chindex Posts Profit on Product Sales, Health Services
» 07/05/2010 [Industry news]
Hong Kong: Recall of all products manufactured by Quality Pharmaceutical Lab Ltd
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Sanofi-Aventis »01/02/2010 [Industry news]
Sanofi, Minsheng in consumer healthcare deal

French drug giant Sanofi-aventis has signed an agreement with Minsheng Pharmaceutical of China to form a new consumer healthcare joint venture.

French drug giant Sanofi-aventis has signed an agreement with Minsheng Pharmaceutical of China to form a new consumer healthcare joint venture. Sanofi and Minsheng said after regulatory approvals, sanofi-aventis will obtain a majority equity stake in the new venture. \"The intended sanofi-aventis-Minsheng joint venture will primarily focus on Vitamins and Mineral Supplements (VMS), the largest consumer healthcare segment in China, where Minsheng has established a strong presence with its flagship multivitamin brand of 21 Super-Vita. Globally, sanofiaventis 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, a leading manufacturer and marketer of branded consumer healthcare products, toiletries and dietary supplements in the United States, a country that represents 25 percent of the worldwide consumer healthcare market,\" Sanofi-aventis said. “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”, added Mr. Spek. “We are equally excited about the prospect of forming the new consumer healthcare joint venture with sanofi-aventis, after more than ten years of successful partnership.” said Zhu Fujiang, Chairman of Minsheng Pharmaceutical. He added, “Sanofi-aventis is an energetic and dynamic company. His success with pharmaceuticals and vaccines has demonstrated his strong marketing capability. We hope that once materialized, the new venture will revitalize our consumer healthcare business and expand the reach of our products to benefit more consumers. We also hope that the new venture will serve as a platform for us to develop more health products in order to contribute to the local economy and meet consumer needs.”

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