M&A activity in the consumer health market was relatively subdued in 2023 with companies favoring bolt-on opportunities over transformational deals.
Following a surge in demand for preventive health products during the COVID-19 pandemic, vitamins, minerals and supplements were among the most coveted consumer health assets last year. Two standout deals saw Sanofi acquire healthy aging supplements brand Qunol – which generates annual sales in excess of $300m – and Pharmavite spend $425m to add to its portfolio Bonafide Health and its VMS lines for menopause. (Also see "Sanofi Grows In US With Healthy Aging VMS Brand Qunol" - HBW Insight, 31 July, 2023
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