Benzinga | Jun 28, 2021 02:16PM EDT

Sanofi Divests 16 Consumer Health Brands To Stada

* Amid a reorganization scheme aimed at slashing costs and prioritizing blockbuster immunology Dupixent, Sanofi SA (NASDAQ:SNY) will offload 16 consumer health products to Germany's Stada Arzneimittel.

* Under the deal, which is expected to close in the third quarter, Stada will get its hands on the registrations, trademarks, and commercial rights for the products across 13 countries.

* The companies didn't disclose financial details.

* The portfolio covers cold and flu meds, skincare, and food supplement brands, Stada said in a release.

* Sanofi doesn't expect the divestiture to take a toll on its European workforce.

* Price Action: SNY shares are up 0.6% at $53.21 during the market session on the last check Monday.