Some interesting news found on pigprogess.net
Merck sells its 50% of Merial to Sanofi-Aventis 30 Jul 2009
French pharmaceutical company Sanofi-Aventis will acquire Merck's interest in animal health company Merial, the companies announced on Thursday, July 30.
The companies signed a definitive agreement under which Merck will sell its 50% interest in the companies' current animal health joint venture, Lyon, France-based Merial, to Sanofi-Aventis for US$4 billion in cash.
A decision about the future of Merial was expected since Merck and Schering-Plough announced a merger in early March. The companies' animal health divisions (Merial and Intervet/Schering-Plough Animal Health) are both seeded in the global animal health top-three – and a combined animal health division will be the world's largest with a combined turnover of more than $5 billion annually.
Formed in 1997, Merial is an animal health company that is a 50/50 joint-venture between Merck, headquartered in Whitehouse Station, NJ, USA and Sanofi-Aventis, which is located in Lyon, France. Following the close of the transaction, Sanofi-Aventis will own 100% of Merial.
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