Sanofi Names Regenauer Global OTC Head, Underscores Consumer Focus
This article was originally published in The Tan Sheet
Executive Summary
Sanofi-Aventis further highlights its consumer health focus by naming Hans Regenauer to head its global OTC business as the firm works to close its acquisition of OTC and personal care firm Chattem
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Sanofi Mulls Putting Cash Behind Interest In Buying L’Oreal’s Shares
Sanofi has the cash to buy back about $12 billion of its shares currently owned by beauty firm L’Oreal, if those shares were up for sale, Sanofi CEO Viehbacher says. L’Oreal CEO Agon suggested in recent earnings call that the firm could seek cash for future deals through the sale of its 9% stake in Sanofi.
Sanofi completes Chattem deal
Sanofi-Aventis completes its purchase of Chattanooga, Tenn-based Chattem, giving the French firm a strong base for its growth in the U.S. consumer health care market, which represents 25 percent of the worldwide opportunity. Sanofi said March 11 that effective at the close of business on March 10, Chattem's common stock ceased trading on NASDAQ. The deal provides new channels for Sanofi to maximize the potential of switching prescription drugs to OTC products, beginning with its Rx antihistamine Allegra (1"The Tan Sheet" Jan. 4, 2010). Chattem's former CEO Zed Guerry will lead the U.S. consumer health care business for Sanofi, reporting to Greg Irace, president and CEO of Sanofi-Aventis U.S. Soon after agreeing to acquire Chattem, Sanofi underscored its expanding consumer product focus by naming Hans Regenauer to head its global OTC business (2"The Tan Sheet" Jan. 11, 2010)