Sanofi India to transfer Nutraceuticals business to Universal Nutriscience
16 nutraceutical brands in the portfolio would be transferred to Universal Nutriscience as part of the transaction.
Mumbai: Sanofi India Limited (SIL) has recently announced that the company's Board of Directors have approved the sale and transfer of its Nutraceuticals' business to Universal Nutriscience Pvt. Ltd.
"This decision will help SIL focus strongly on its growth pillars, while allowing the Nutraceuticals business to have more opportunities for expansion in an organisation where it will have a better strategic fit," the company said in a recent release.
"Sanofi India Limited's (SIL) growth strategy is to ensure that patients have sustainable access to its medicines by developing new business models, leveraging technologies and simplifying the portfolio," the company added.
Speaking on the transaction, Rajaram Narayanan, Managing Director – Sanofi India Limited said, "Across the world, Sanofi regularly assesses the best ways in which to serve our customers. Following a strategic review of its portfolio, the company believes that the future potential of the Nutraceuticals range would be maximized in an organisation, which can provide deep category understanding and continuous innovation required to win in this specialized area. We have carefully selected Universal Nutriscience whose mission is to grow the business to provide more patients with increased access to the range of Nutraceuticals across India. Together, we are committed to ensuring a smooth transition for the benefit of our employees, our customers and the patients of India."
Nishant Sharma, CIO & Managing Partner, Kedaara Capital on behalf of Universal Nutriscience said, "We are excited to be chosen by Sanofi India to acquire their Nutraceuticals portfolio. At Universal Nutriscience, our vision is to become India's leading Nutraceuticals company. We are committed to building a focused Nutraceuticals business backed by three decades of experience in R&D and manufacturing to provide end-to-end scientifically backed products and services. We will leverage the strong foundation of the business we are inheriting, including the established brand equity and experienced and knowledgeable team, to build a Nutraceuticals business that will be admired by consumers, healthcare professionals and other stakeholders in the eco-system."
The transaction is valued at INR 5,870 million. Subject to fulfilment of conditions, closing is anticipated within the next 3 months. 16 nutraceutical brands in the portfolio would be transferred to Universal Nutriscience as part of the transaction. These would include brands such as Seacod, E-Cod, CoQ, Primosa, and Collaflex.
Deloitte Corporate Finance acted as the exclusive financial advisor to Sanofi India Limited, on this transaction.
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