Sanofi-Aventis SA will purchase Chattem Inc for $1.9 billion.
In a move to enter the U.S. consumer health care market, the CEO of the Paris-based drugmaker, Chris Veihbacher called the maker of Gold Bond medicated body power “the ideal entry for us into this market.”
Sanofi stock rose 11 cents, or 0.2 percent, to euro54.81 in Paris trading. Chattem soared $22.89, or 33 percent, to $92.87 in morning trading in New York.
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