Sanofi-Aventis, the French drugmaker, is to expand its presence in the Australian healthcare sector after agreeing to buy Primary Health’s consumer business for A$560m (US$546m).
The French group outbid rivals, including Germany’s Merck, to buy the business in an auction run by Caliburn Partnership, the Australian boutique investment house. Analysts at Macquarie estimated the business was worth up to A$480m.
