2nd October 2023
Cooper Consumer Health (“Cooper CH”) a leading European independent over-the-counter drug manufacturer and distributor, is pleased to announce today that it has entered into exclusive negotiations with Viatris Inc. (“Viatris”, NASDAQ:VTRS), a global healthcare company, for the Viatris’ Over-the-Counter (OTC) business (the “Viatris OTC Portfolio”). The transaction is subject to workers’ councils information and consultation and to the approval of relevant regulatory authorities.
The acquisition will firmly establish Cooper Consumer Health as a leading healthcare platform in Europe, across a wide range of therapeutic areas. The Viatris OTC Portfolio consists of a leading portfolio of c. 200 brands mostly across Europe, with a strong medical heritage, brand equity and endorsements from both consumers and healthcare professionals. The Viatris OTC Portfolio will almost double the size of Cooper Consumer Health, with combined sales reaching over €1.1bn. The transaction perimeter also includes two high-quality manufacturing sites (Mérignac, France and Confienza, Italy) and one R&D center in Monza (Italy).
Bart Meermans, Group CEO of Cooper Consumer Health, said: “It is an exciting strategic move for Cooper CH, creating a truly pan-European pure-play leader in consumer healthcare. The Viatris OTC Portfolio is very complementary with Cooper CH both from a geography and categories perspective. Cooper CH’s portfolio will expand to cover new, large and important consumer healthcare categories, such as feminine hygiene, antiseptics, cholesterol reduction, and others. We are looking forward to working jointly with our Cooper CH teams and the teams that will join us from Viatris and embark on our exciting journey.”
Yvan Vindevogel, Chairman of Cooper Consumer Health, said: “This really is a major step in the history of Cooper CH. With this transaction, Cooper CH will be doubling in size and vastly extending its geographical reach. We believe that this will provide a fruitful ground for further accelerated growth through both organic and external opportunities, building on the work we have done in the past. We look forward to further invest in these attractive and growing brands, and also enter into new and important geographies like the DACH region, Scandinavia as well as strengthening our presence in a number of geographies. Lastly, my special thanks goes out to Cooper CH’s management team, who worked day and night over the last few months to make this happen, as well as the representatives of Viatris, who put in a lot of effort to help us throughout the process.”