Sanofi Names Regenauer Global OTC Head, Underscores Consumer Focus
This article was originally published in The Tan Sheet
Sanofi-Aventis further highlights its consumer health focus by naming Hans Regenauer to head its global OTC business as the firm works to close its acquisition of OTC and personal care firm Chattem
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Sanofi-Aventis completes its purchase of Chattanooga, Tenn-based Chattem, giving the French firm a strong base for its growth in the U.S. consumer health care market, which represents 25 percent of the worldwide opportunity. Sanofi said March 11 that effective at the close of business on March 10, Chattem's common stock ceased trading on NASDAQ. The deal provides new channels for Sanofi to maximize the potential of switching prescription drugs to OTC products, beginning with its Rx antihistamine Allegra (1"The Tan Sheet" Jan. 4, 2010). Chattem's former CEO Zed Guerry will lead the U.S. consumer health care business for Sanofi, reporting to Greg Irace, president and CEO of Sanofi-Aventis U.S. Soon after agreeing to acquire Chattem, Sanofi underscored its expanding consumer product focus by naming Hans Regenauer to head its global OTC business (2"The Tan Sheet" Jan. 11, 2010)
Sanofi-Aventis will need to build an infrastructure geared to Rx-to-OTC switch in order to make a successful U.S. consumer business out of its planned acquisition of Chattem and become established as a switch player
Quigley founder leaves after ouster: Guy Quigley resigns effective immediately from his positions as chairman, director, president and CEO of the firm he founded in 1989, following the board's election of dissident shareholder Ted Karkus as chairman. The U.S. District Court for the Eastern District of Pennsylvania rejected Quigley Corp.'s challenges in the wake of the May 20 shareholders meeting, clearing board seats for Karkus and his slate of directors. Karkus was named interim CEO of the Doylestown, Pa.-based firm June 18. Guy Quigley said he was proud Cold-Eeze zinc cold lozenges became "a highly respected product and a well-established household name" over his 20 years at the firm. The board has "the immediate and daunting task of halting the precipitous decline in financial performance" of recent years, Karkus said June 15. Quigley incurred a $2.2 million loss from continuing operations during its fiscal 2009 first quarter as sales fell 24.5 percent (1"The Tan Sheet" May 11, 2009)