French drug manufacturer Sanofi Aventis will purchase the Indian vaccine company Shantha Biotechnics for $784 million.
French drug manufacturer Sanofi Aventis will purchase the Indian vaccine company Shantha Biotechnics for $784 million. This acquisition will give Sanofi a platform in India as well as access to a pipeline of new products.
Per the agreement, Sanofi's vaccine division Sanofi-Pasteur will acquire ShanH, French subsidiary of Merieux Alliance, which holds a majority stake in Hyderabad-based Shantha.
Sanofi Pasteur, Sanofi’s vaccine unit, will support Shantha’s development. Varaprasad Reddy, who founded Shantha in 1993, will continue leading the company as managing director.
