Weil Gotshal, Skadden win lead roles on $1.9bn Sanofi buyout

December 29, 2009 French drug maker Sanofi-Aventis is purchasing Tennessee-based consumer care products company Chattem Inc. for $1.9-billion in a move to diversify from its prescription drugs, many of which will lose patent protection in the coming years and face stiffer competition from generic drugs.

The acquisition will create the fifth-largest consumer products company in the world and give the French pharmaceutical company a presence in the US over-the-counter (OTC) drugs market.

A Weil Gotshal team led by partner Michael Aiello advised Sanofi-Aventis. Skadden is advising Chattem, with a team including partners Stephen Arcano, Richard Grossman, Stuart Alperin and Gregory Fernicola.

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