Boehringer CEO says negotiations with Sanofi to be complex

Boehringer CEO says negotiations with Sanofi to be complex

FRANKFURT (Reuters) – Boehringer Ingelheim expects negotiations with Sanofi approximately the drugmakers' planned asset swap to be complex yet is confident the deal can be wrapped up by the end of next year.

"We are at the very beginning & want to achieve our goal. There are a number of questions… You see that it is a complex procedure," CEO Andreas Barner told journalists in a conference call.

He confirmed Boehringer & Sanofi's goal to close the transaction in the fourth quarter of 2016, subject to regulatory approvals.

Sanofi & Boehringer are in exclusive talks over a $20 billion (£13.2 billion) swap of the French pharmaceuticals company's animal health business for the family-owned German group's consumer health operation.

Barner said there was "practically no overlap" in the animal health & consumer healthcare businesses that are to be merged, which was satisfactory for employment prospects of affected staff.

(Reporting by Ludwig Burger; Editing by Kirsti Knolle)

Source: “Reuters”