Aventis Pharma Limited (part of the Sanofi Group) announced on 24 th August, 2011 that it has entered into a definitive agreement to acquire Universal Medicare Private Limited’s business of marketing and distribution of branded nutraceutical formulations in India. Also, approximately 750 commercial employees will transition to Aventis Pharma Ltd. The transaction has been approved by the Boards of Directors of both companies. It is expected to close in the fourth quarter of 2011, subject to certain conditions precedent. Universal Medicare, (headquartered in Mumbai, India) manufactures, markets and distributes branded nutraceutical formulations in India through their sales and marketing infrastructure. For the year ended March 31, 2011, Universal Medicare’s turnover of the business to be acquired was approximately Rs. 1100 million. With this acquisition, Aventis Pharma will advance its sustainable growth strategy in India and facilitate the creation of a consumer healthcare a...