As has been confirmed by the pharmaceutical giant, Sanofi-Aventis is looking to purchase US consumer health group Chattem Inc. in a deal which will cost the former a whopping $1.9 Billion, and the purchase will give the French drug manufacturer over-the-counter presence across the US.

The drug maker has shared that it is soon to start a tender offer for all Chattem shares, under which $93.50 would be paid for each of the company's shares, which is a 34% premium as compared to the last trading price on Friday.

The takeover fits perfectly with Sanofi Chief Executive Chris Viehbacher's plans to expand the firm's business to include more options, with the aim to off-set the losses that are being incurred by the company's older drugs, which are facing tough competition from cheaper alternatives.

"It looks for me an interesting deal to generate a lot of synergies. It's a special Sanofi-Aventis theme, because they have the greatest need to move something. Either they go into generic business or they have to do a deal like this one, and this one for me makes more sense and is better", said Timo Kuerschner, analyst at LBBW.

For the third quarter of the current fiscal year, Chattem reported a profit of $23.4 Million and is being seen as a beneficial investment.