Posted on 10/03/2010 in Animal Health Supplier News Merial is to be combined with fellow animal health company Intervet/Schering-Plough in a move which will create one of the world's largest veterinary pharmaceuticals firms.
The venture will be owned and operated jointly by the two companies' respective owners Sanofi-aventis and Merck Sharpe and Dohme, with the merger set to be completed within the next year.
As Intervet/Schering-Plough is valued slightly higher than Merial, Merck Sharpe and Dohme will receive a true-up payment of $250 million (167.2 million pounds) in order to create a 50/50 venture.
Christopher Viehbacher, chief executive officer (CEO) of Sanofi-aventis, said the merger represents "an exciting opportunity for Sanofi-aventis to create with Merck a leading company in ? animal health".
Richard Clark, president and CEO for Merck Sharpe and Dohme, added that the agreement will create "one of the broadest portfolios of animal health products and services in pharmaceuticals and biologics".
Last month, Merial received approval from regulators in the US for Oncept, a canine melanoma vaccine which it believes can represent a potential landmark treatment for the disease in both animals and humans.Other news stories from 10/03/2010
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