Kalbe acquires Aventis to boost its prescription drug business


PT Kalbe Farma Tbk (KLBF) acquires PT Aventis Pharma from Sanofi Aventis Participations and Hoechst GMBH (Sanofi). The Share Purchase Agreement or SPA was signed on July 22, 2022 between Sanofi Aventis Participations and Hoechst GMBH (Sanofi) as seller and PT Kalbe Farma Tbk as buyer. As part of this agreement, Sanofi will transfer its majority stake in PT Aventis Pharma to Kalbe in the fourth quarter of 2022 once all SPA requirements have been met.

Kalbe acquires an 80% stake in Aventis Pharma, including a manufacturing plant located in Jakarta, distribution assets and rights, and marketing of Sanofi’s prescription drugs and vaccines in Indonesia. The acquisition will also ensure the continued production and supply of the Indonesian market through a long-term commitment in all aspects of distribution and licensing between Kalbe and Sanofi.

Kalbe said this strategic move will align products with Kalbe’s portfolio, particularly in targeted therapeutic classes, such as diabetes and cardiovascular disease, and access to vaccines as part of Kalbe’s growth strategy. “We estimate that around October 2022 (the transaction) will be completed. The source of funds is internal treasury or bank loans,” Vidjongtius, chief executive officer of PT Kalbe Farma Tbk, said on Monday.

Source link

About Alex S. Crone

Check Also

Calls for fillers to be prescription only to stop the “conveyor belt” of procedures

DERMAL fillers are a popular choice for cosmetic procedures in the UK. But groups have …