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Sanofi to buy Universal Medicare's OTC unit

According to reports, Sanofi is in talks to buy the majority stake in Universal Medicare's over-the-counter (OTC) business

According to reports, Sanofi is in talks to buy the majority stake in Universal Medicare's over-the-counter (OTC) business.

News agency Reuters has said two sources with 'direct knowledge' of the subject claim India-based Aventis Pharma, a division of Sanofi, is close to completing a deal worth 5bn rupees ($109.5m).

The deal would see Aventis gain 30 products manufactured by Universal Medicare, with combined annual sales of over 1bn rupees, boosting the company's OTC activities in India.

Universal Medicare has a workforce of around 700 people. Its OTC products include pain management medicines and cod-liver oil.

Sanofi refused to comment on the speculation.

23rd August 2011

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