Sanofi Pasteur strengthens vaccines position in India through the control of Shantha Biotechnics via Mérieux Alliance

28-Jul-2009 - India

Sanofi-aventis and Mérieux Alliance announced the signature of a strategic agreement for the acquisition by Sanofi Pasteur of Mérieux Alliance’s French subsidiary ShanH, which owns a majority stake in vaccine company Shantha Biotechnics based in Hyderabad, India. Alain Mérieux will chair the Board of ShanH and a new joint committee will be created to be chaired by Alain Mérieux on vaccine strategy for the Emerging Markets.

Under the terms of the agreement, Sanofi Pasteur, the vaccines division of the sanofi-aventis Group, will support Shantha’s ongoing development as a platform to address the need for high quality affordable vaccination in international markets. Dr Varaprasad Reddy, the founder of Shantha Biotechnics in 1993, will continue to lead the company as Managing Director. The transaction, set to close before the end of the third quarter, values Shantha at 550 million euros. For the current fiscal year, sales of Shantha are expected to be around 90 million US dollars. Sales are expected to grow significantly given the commercial resources of Sanofi Pasteur and through the development and launch of Shantha’s pipeline of new vaccines.

Commenting on the agreement, Christopher A. Viehbacher, Chief Executive Officer of sanofi-aventis said: “Shantha provides Sanofi Pasteur with a portfolio of new vaccines in development which complement Sanofi Pasteur’s current vaccines, positioning the company to accelerate its growth in strategically important emerging markets”.

https://www.bionity.com/en/news/103837/sanofi-pasteur-strengthens-vaccines-position-in-india-through-the-control-of-shantha-biotechnics-via-merieux-alliance.html