Symbion

Sanofi-aventis to acquire Symbion Holdings for $544 million news
21 July 2008
French drug maker Sanofi-Aventis today said it had signed a binding agreement to acquire Australia's largest distributor of vitamin supplements, Symbion CP Holdings Pty Limited, from its owner Primary Health Care Ltd for A$560 million ($544 million / approximately Rs2325 crore).
Symbion manufactures, markets and distributes nutraceuticals (vitamins and mineral supplements) and over the counter brands throughout Australia and New Zealand. It has a strong portfolio of premium brands including Natures Own, Cenovis, Bio-organics, Golden Glow and Microgenics and is the market leader, with an estimated 21 per cent market share.
Symbion Consumer's sales amounted to around A$190 million in 2007.
''The purchase of Symbion Consumer provides Sanofi-Aentis in Australia with a leading market share in a rapidly growing category,'' said Olivier Charmeil, senior vice president, pharmaceutical operations, Asia Pacific, Sanofi-Aventis. "The acquisition will sustain Sanofi-Aventis Australia growth through products portfolio widening, increased pharmacy presence and access to new channels, and will create strong synergies with our existing pharmaceutical activities. Additionally, this acquisition will represent for sanofi-aventis a platform to launch a nutraceutical offering throughout the Asia / Pacific region'', he concluded.