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SANOFI PURCHASE OF STERLING Rx BUSINESS DOES NOT INCLUDE OTCs

This article was originally published in The Tan Sheet

Executive Summary

SANOFI PURCHASE OF STERLING Rx BUSINESS DOES NOT INCLUDE OTCs marketed in Europe under the French firm's joint venture with Sterling. Under an agreement between Kodak and Sanofi signed June 22, Sanofi will acquire Sterling's share of both the U.S. and international Sterling/Sanofi prescription drug joint ventures for $1.68 bil. In addition, Sanofi is relinquishing its interest in the two companies' OTC drug joint venture in Europe. The agreement is subject to regulatory review and is expected to close in the second half of 1994, Sanofi said.
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