Chris Viehbacher's hunt for health-care acquisition targets snared a big trophy.
The CEO of French drug maker Sanofi-Aventis announced this morning that he's spending about $1.9 billion to buy Chattem, the Chattanooga, Tenn.-based maker of Gold Bond powder, Icy Hot pain relief ointment and other consumer products.
Viehbacher, who previously was GlaxoSmithKline's top executive in Research Triangle Park, said in September he expected Sanofi would have "more shopping on the horizon."
Viehbacher was in Chapel Hill this morning to announce that Paris-based Sanofi is giving $2 million to support cancer research at the N.C. Cancer Hospital on the campus of UNC-Chapel Hill. A high-tech conference room at the hospital is being renamed for the drug company.