Sanofi-Aventis Completes Chattem, Inc Acquisition

French drug company Sanofi-Aventis (SNY) Thursday said it has completed the acquisition of 100% of Chattem, Inc. (CHTT), which is now a wholly-owned subsidiary of the Sanofi-Aventis Group.

MAIN FACTS:

- Sanofi-Aventis said the acquisition provides new channels for maximizing the potential of converting its prescription medicines to over-the-counter, or OTC, products, beginning with Allegra, which it expects to be an important growth driver.

- The transaction is expected to be accretive to Sanofi-Aventis' earnings as early as year one.

- Sanofi Aventis also said it expects to obtain significant revenue synergies through the expansion of Chattem's products into currently untapped geographic markets where Sanofi-Aventis has a strong operating presence.

- By Paris Bureau, Dow Jones Newswires; +331-4017-1740; djnews.paris@dowjones.com

Chattem, Inc. (MM) (NASDAQ:CHTT)
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