Sanofi agrees to sell five OTC products to Ipsen following deal with Boehringer Ingelheim

Sanofi agreed to sell five consumer healthcare products in certain European territories to Ipsen for 83 million euros ($88 million) in cash, Ipsen announced Monday. The transaction comes after Sanofi completed an asset swap with Boehringer Ingelheim earlier this year, which was conditional on the former divesting a number of treatments in some western and eastern European countries.

In June last year, Sanofi and Boehringer Ingelheim signed contracts to formalise a strategic transaction first detailed in 2015 to exchange the French drugmaker's animal health unit Merial and the German company's consumer healthcare business. The deal also included a cash payment of 4.7 billion euros ($5 billion) to Sanofi to reflect the difference in value of the two businesses.

According to Ipsen, the products purchased from Sanofi include the analgesic Prontalgin, the antispasmodic Buscopan and the laxative Suppositoria Glycerini. Ipsen noted that the five brands are sold in eight European countries, adding that manufacturing of the products will be provided by third parties.

Ipsen CEO David Meek said the "deal strengthens our consumer healthcare portfolio in France with the addition of Prontalgine," adding that "the opportunity immediately improves the profitability profile of Ipsen's primary care business." The transaction with Sanofi is expected to close in the second quarter.