STERLING WINTHROP AND SANOFI ANNOUNCE INITIATION OF ALLIANCE OPERATIONS IN GERMANY
STERLING WINTHROP AND SANOFI ANNOUNCE INITIATION
OF ALLIANCE OPERATIONS IN GERMANY
NEW YORK, Nov. 15 /PRNewswire/ -- Sterling Winthrop Inc. and Sanofi today announced the initiation of pharmaceutical and consumer health products alliance operations in Germany. Final agreements creating the alliance organizations were signed on Oct. 31, 1991. In August, the companies announced initiation of alliance pharmaceutical operations in the United States and France, and consumer health products alliance operations in France.
"The progress of building our global alliance continues smoothly," said Louis P. Mattis, chairman, president and chief executive officer of Sterling Winthrop. "We expect to announce initiation of operations in other countries around the end of the year."
The pharmaceutical alliance organization will operate as Sanofi Winthrop and will be managed by Sanofi. Key products will include Muskel Trancopal (chlormezanone) muscle relaxant, Winobanin (danazol) hormonal agent, Fortral (pentazocine) analgesic, Musaril (tetrazepam) muscle relaxant, Fraxipairn (low molecular weight heparin) antithrombotic, Calciparin (calcium heparin) antithrombotic, Cordarex (amiodarone) antiarrhythmic, and Tiklyd (ticlopidine) platelet antiaggregant.
The consumer health products alliance organization, to be managed by Sterling Winthrop, will market products under the name Sterling Health.
Sterling Winthrop and Sanofi Alliance
As a result of the alliance, Sterling Winthrop and Sanofi will rank among the top 20 pharmaceutical companies, with annual sales of more than $2 billion. The alliance will be among the leaders in pharmaceutical R&D, with combined expenditures of approximately $500 million, supported by more than 3200 scientific and support personnel. Consumer health products operations will rank as a leader in Europe.
The Sterling Winthrop and Sanofi alliance benefits from the geographic complementarity of the two companies, their similar research orientation and their common vision. The alliance is well positioned to meet the challenges in the next decade, and to rapidly introduce innovative and improved products.
Together, Sterling Winthrop Inc., headquartered in New York City, and Sanofi, headquartered in Paris, have developed a common vision for the alliance which states: "Together, we are a worldwide team committed to creating distinctive solutions for the needs of mankind in pharmaceutical and consumer health products."
/CONTACT: Terry G. Kelley, 212-907-3009, or David M. Marcou, 212-907-2672, both of Sterling Winthrop/ CO: Sterling Winthrop Inc.; Sanofi ST: New York IN: MTC SU: SM-OS -- NY079 -- 1684 11/15/91 15:56 EST