Sanofi-aventis (SNY) signed agreements with Minsheng Pharmaceutical Co., Ltd to form a new consumer healthcare joint venture. Sanofi-aventis is to obtain a majority equity stake in the new venture, subject to certain conditions precedent and to regulatory approvals. The deals were signed in the presence of senior leaders of the Hangzhou municipal government.
The company added that the planned sanofi-aventis-Minsheng joint venture would mainly focus on Vitamins and Mineral Supplements (VMS), where Minsheng has established a strong presence with its flagship multivitamin brand of 21 Super-Vita.
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