Aventis Pharma seals deal to buy Universal Medicare
Aventis Pharma has entered into a absolute acceding to access Universal Medicare’s business and administration business in India. The accord is accepted to abutting in the fourth division of 2011, according to a account issued by Aventis Pharma. ET aboriginal bankrupt the account in its copy anachronous August 23, 2011. Although Aventis did not admit the accord size, bodies accustomed with the development beforehand called it at about $100 million. The Mumbai-based aggregation makes OTC articles acclimated to amusement osteoporosis, arthritis and women’s healthcare. It will shop for added than 40 branded diet products.
Universal Medicare has 750 bartering advisers on board, who will now be a allotment of Aventis Pharma . Last fiscal, Universal Medicare’s about-face of the business and administration business was about Rs 110 crore. The accretion will advice the French drugmaker calibration up its over-the-counter business in India. In India, Sanofi-Aventis Group operates through bristles entities, including the listed Aventis Pharma, whose allotment bankrupt at Rs 2,155, up 5.72% on BSE.