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 PARIS (AP) - Sanofi-Aventis SA, the world's third-largest pharmaceutical company, said Monday it bought a 25 percent stake in Czech drugmaker Zentiva for 430 million euros ($515 million).
Sanofi bought the stake from investment firm Warburg Pincus and Zentiva employees, becoming the largest shareholder in the Prague-based company, which develops, manufactures and markets low-cost pharmaceutical products.
The deal is the first acquisition by Sanofi-Aventis since its creation in an August 2004 takeover of Aventis by rival Sanofi-Synthelabo.
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