Posted on 31/07/2009 in Veterinary Supplier News Merial shares currently owned by Merck are set to be purchased by Sanofi-aventis, it has been announced.
In a statement, it was noted that Merck will sell its 50 per cent stake in Merial to the firm for $4 billion (2.42 billion pounds) in cash.
Established in 1997, Merial is a joint venture between the two companies, with each owning half. However, following the deal, Sanofi-aventis will be the sole owner of Merial.
In addition to the transaction, Merck, Sanofi-aventis and Schering-Plough have announced the signing of a call option agreement, which would come into effect after the close of the Merck/Schering-Plough merger.
The agreement will provide Sanofi-aventis with the option to combine Merial with the Intervet/Schering-Plough Animal Health business to form an animal health joint venture that would be owned by Sanofi-aventis and the new Merck.
In recent weeks, Intervet/Schering-Plough Animal Health announced the introduction of the canine vaccine NOBIVAC Lyme.Other news stories from 31/07/2009
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