Sanofi to Buy Medley

French pharmaceutical group Sanofi Aventis said on April 9 it will acquire Brazil's Medley, a specialist in generic treatments, for $665 million (500 million euros.)

Medley, ranked third in Brazil, posted 2008 sales of some 150 million euros, two thirds of which were accounted for by generic drugs -- those on which patents have lapsed.

"This acquisition will allow Sanofi Aventis to strengthen its number one position in Brazil," the company said.

Copyright Agence France-Presse, 2009