Japanese drugmaker SSP Co. will be put under the wing of Sanofi as the French health care titan and Germany's Boehringer Ingelheim GmbH announced an asset swap agreement Monday.
Under the deal, Sanofi will acquire Boehringer's consumer health operation, including SSP, in exchange for its animal health business. The transaction is expected to be completed by the end of the year and remains subject to approval by the regulatory authorities involved.
Tokyo-based SSP is known for such products as sleep aid Drewell and energy drink S-Cup. The company operates a factory and research facility in Narita, Chiba Prefecture.
A Sanofi official said the asset swap will enable the French firm to penetrate more markets, especially in Europe and the Asia-Pacific.