Sanofi-aventis Signs Agreements to Establish New Consumer Healthcare Joint Venturein China with Minsheng Pharmaceutical Group

01-Feb-2010 - France

Sanofi-aventis signed agreements with Minsheng Pharmaceutical Co., Ltd to form a new consumer healthcare joint venture. Subject to certain conditions precedent and to regulatory approvals, sanofi-aventis is to obtain a majority equity stake in the new venture. The agreements were signed in the presence of senior leaders of the Hangzhou municipal government.

The intended sanofi-aventis-Minsheng joint venture will primarily focus on Vitamins and Mineral Supplements (VMS), the consumer healthcare segment, where Minsheng has established a strong presence.

“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 Hanspeter Spek, who presided over the signing ceremony together with Minsheng and senior leaders of Hangzhou municipal government.

“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 Co., Ltd. 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”.

https://www.bionity.com/en/news/112505/sanofi-aventis-signs-agreements-to-establish-new-consumer-healthcare-joint-venturein-china-with-minsheng-pharmaceutical-group.html