Sanofi-Aventis has completed its acquisition of Chattanooga-based Chattem Inc., which now becomes the French company’s consumer health care division in the United States.
The 130-year-old Chattem agreed late last year to be bought for $1.9 billion in cash by Sanofi-Aventis, the maker of pharmaceuticals such as antihistamine Allegra and heart medicine Plavix.
According to Paris-based Sanofi-Aventis, the acquisition provides new channels for maximizing the potential of converting its prescription medicines to over-the-counter products, beginning with Allegra.
Also, the company said it expects to obtain significant revenue synergies through the expansion of Chattem’s products into currently untapped geographic markets where Sanofi-Aventis has a strong operating presence.
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