Sanofi-aventis acquires controlling stake in Shantha

The French pharmaceuticals company agrees to an aggressive valuation of $784 million to buy control of the Hyderabad-based biotechnology firm from Merieux Alliance.

Sanofi-aventis will acquire a controlling interest in Hyderabad-based vaccine company Shantha Biotechnics at a price which values the Indian company at 550 million $784 million.

Sanofi Pasteur, the vaccines division of Sanofi-aventis, has signed an agreement with Merieux Alliance to buy Merieux's subsidiary ShanH, which in turn owns around an 80% stake in Shantha.

Shantha, which is not listed, is expected to have revenues of $90 million for the current fiscal year, and based on that, the...

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