LONDON, Jan 29 (APM) - Sanofi-Aventis said on Friday it is expanding in China by joining forces with Minsheng Pharmaceutical to form a new consumer healthcare joint venture in the country.

It said in a statement that the joint venture in which Sanofi will hold a majority stake, will primarily focus on vitamins and mineral supplements (VMS), the largest consumer healthcare segment in China, where Minsheng has established a strong presence with its flagship multivitamin brand of 21 Super-Vita.

Globally, Sanofi is the fifth largest consumer healthcare company and it continues to expand its presence through mergers and acquisitions. It said it was one of the first foreign pharmaceutical companies to open offices in China.

Most recently, Sanofi announced its planned acquisition of Chattem, a leading manufacturer and marketer of branded consumer healthcare products, toiletries and dietary supplements in the U.S., a country that represents 25% of the worldwide consumer healthcare market.

Hanspeter Spek, head of Sanofi's global operations, said: "Combined with our leadership position in vaccines, we will continue to contribute to preventative healthcare in China.

"Entering the world's second largest consumer healthcare market is also a strategic move for sanofi-Aventis to consolidate its position in consumer healthcare."

Minsheng's chairman Zhu Fujiang said: "We hope that once materialized, the new venture will revitalize our consumer healthcare business and expand the reach of our products to benefit more consumers. We also hope that the new venture will serve as a platform for us to develop more health products in order to contribute to the local economy and meet consumer needs."

In 2008, the consumer healthcare market in China was estimated to approach seven billion euros, it said. The market is set for continued double-digit growth over the next five years.

nh/ra


[17932] 29/01/2010 08:03 GMT - INDUSTRY