Sanofi-aventis announced that it has entered into a binding agreement with Primary Health Care Limited (Primary) to acquire Symbion CP Holdings Pty Limited (Symbion Consumer) in Australia.

Symbion Consumer manufactures, markets and distributes nutraceuticals (vitamins & mineral supplements) and over the counter brands throughout Australia and New Zealand. Symbion Consumer has a strong portfolio of premium brands including Natures Own, Cenovis, Bio-organics, Golden Glow and Microgenics.

Symbion Consumer sales amounted to around A$ 190 million in 2007. Symbion Consumer is the market leader, with an estimated 21per cent market share.

The transaction is valued at A$ 560 million. Its completion, subject to certain conditions, is expected to occur on 31 August 2008.

"The purchase of Symbion Consumer provides sanofi-aventis in Australia with a leading market share in a rapidly growing category", declared 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.