Sanofi/Phoenix Lab:
Divested Sanofi consumer health brands in APAC to Phoenix
Labs
Background
In October 2022, Sanofi CHC selected Plexus Ventures to manage the divestment of
certain products sold in the APAC region: Proctosedyl™, the leading pharmacy-only
haemorrhoid treatment in Australia, and assorted Essential Remedies products
distributed in multiple countries. Project complexity was expected to arise from an
uneven presence of each product by country, the variety of manufacturers involved in
supplying product, and a downward sales trend of the business.
Objective
Divestment of the Proctosedyl™ and other legacy household products business as a
single package to a local company.
Process
Plexus Ventures prepared all non-confidential and confidential materials with which to
guide interested parties through the divestment process. Plexus Ventures contacted
over 80 companies with commercial operations in APAC to solicit interest and to
generate positive competition for this package of assets. Multiple non-binding offers
were submitted, and companies with attractive offers were allowed to conduct due
diligence. Ultimately, a handful of companies confirmed their initial offers following due
diligence, and several were invited to negotiate a definitive agreement.
Outcome
In May 2023, Phoenix Labs succeeded in acquiring the entire portfolio of marketed
products having registration and sales in Australia, New Zealand, Malaysia, Singapore,
Thailand, China and Ireland.