Chattem to be acquired by sanofi-aventis

In the spirit of the current era of industry growth through mergers and acquisitions, drug giant sanofi-aventis (NYSE:SNY) (Paris, France) is set to buy Chattanooga, Tennessee, consumer healthcare company Chattem Incorporated (NASDAQ:CHTT) for $1.9 billion. While sanofi already has a successful international over-the-counter (OTC) and consumer brand business (non-prescription), the company has no direct presence in the United States. This will change with the acquisition of Chattem, a leading OTC and consumer healthcare product manufacturer.