Merck and Sanofi-Aventis to merge its subsidiaries disclaim Animal Health
Friday, March 25, 2011
How Many Milles Is Okmdx
For EFEAGRO
U.S. pharmaceutical group Merck and Sanofi-Aventis France have announced plans to waive their to merge its subsidiaries Animal Health, Intervet / Schering-Plough, and Merial, respectively, due to difficulties in carrying out the operation.
Merck and Sanofi-Aventis explained in a joint statement on March 22 that will maintain its assets and its current activities separate, and there will be no penalties for either, so that each bear the costs derived from the process initiated with the announcement of 9 March 2010 to create a joint venture.
The reason given for abandoning the project is "mainly due to the increasing complexity of the implementation of the proposed transaction both by the nature and size of assignments early, and by the time necessary for the review process by competition authorities worldwide. "
Sanofi-Aventis said it continues" strongly committed "to veterinary practice and will continue to develop it with the mark Merial, which last year billed $ 2,600 million.
In the same vein, Merck said it remains" very committed "in the business of Animal Health Intervet / Schering-Plough, whose turnover last year was 2,900 million euros.
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