A quick summary.

On Monday medicine producer Sanofi-Aventis said that it had consented to buying Chattem, the consumer health care company, for roughly 1.9 billion dollars. According to Reuters, this deal will give Sanofi a greater presence in the United States especially “over-the-counter”.

The French company Sanofi-Aventis reported that it will offer $93.50 per share until complete acquisition of Chattem which is based in Tennessee and is known for products like “Icy Hot” pain relief and “Gold Bond” skin care.

Sanofi-Aventis will start the public offer in January and plans completion of the process within the first quarter of 2010. Also they said that they stopped developing two medicines which is part of a greater plan to re-think their future business strategies.