• Sanofi S.A. (Sanofi) is a multinational pharmaceutical company, and a global leader in healthcare, with over €34 billion sales in 2018
  • Following an asset swap with Boehringer Ingelheim (BI) in 2017, in which Sanofi acquired BI’s Consumer Healthcare (CHC) business, including the brand BoxaGrippal®, Sanofi initiated a review of the combined CHC portfolio in order to realign its categories. This ultimately led to the strategic decision to divest BoxaGrippal® along with Heumann medicinal teas which had been a Sanofi brand since 1999
  • BoxaGrippal® (ibuprofen/pseudoephedrine), a leading pharmacy-only OTC brand in the cold & flu category, has achieved outstanding brand awareness since its launch in 2013, with top rankings in its category (#4 in Germany, #3 in Austria)
  • Heumann Tee are a brand of herbal medicinal teas (OTC) with a heritage of more than 60 years for the treatment of  bladder and kidney discomfort, as well as coughs and stomach conditions


  • DC Advisory (DC) was engaged by Sanofi in December 2018 to orchestrate a comprehensive auction for this portfolio of German and Austrian OTC brands
  • In addition to thorough preparation and efficient process management, DC provided Sanofi with strategic advice throughout the process
  • Following a very competitive process with a large number of pharmaceutical companies participating, Angelini Pharma reached an agreement with Sanofi to acquire both brands for €47 million in an asset deal with no employees, equipment, or real estate included


  • BoxaGrippal® and Heumann Tee will strengthen Angelini Pharma’s OTC business and consolidate its presence in Germany and Austria by adding to the main brand Tantum®, which has been successfully marketed in both Germany and Austria for many years
  • This transaction showcases DC’s global healthcare capabilities, as well as its position as a leading advisor supporting clients in realising cross-border deals in the mid-market