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...Now Sanofi — run by a former Pfizer executive — has said it may sell Merial, its animal health unit. Merial had sales of €2.1bn in 2014, 6 per cent of the group total....
...Sanofi is divesting Merial for €11.7bn, an enterprise value of about 4.6 times its sales, roughly in line with the price Novartis obtained from Eli Lilly for a similar business....
...By taking on Sanofi’s animal health business – which is called Merial – Boehringer said it would become the second largest player in global animal health with sales of around €3.8bn....
...Sanofi’s Merial animal health division plans to launch a new chewable formulation in 2014 of its “blockbuster” Frontline anti-tick treatment that was exposed to generic competition last year....
...Sanofi-Aventis plans to cut costs and expand its animal health business through acquisitions as it fully integrates Merial after the collapse of its longstanding joint venture with Merck of the US....
...Merck maintains a development and marketing partnership for vaccines in Europe with Sanofi-Aventis, and until the recent collapse of talks it was planning a renewal of Merial, its long-standing partnership...
...Only last month, Merck stated that delays meant the integration of Merial was now only due to be completed by the third quarter this year....
...ago, Mr Viehbacher paid $1.9bn for Chattem, maker of Selsun Blue shampoo, gaining a foothold in the US consumer health care market; and $4bn – his largest amount – to buy the remaining 50 per cent of its Merial...
...The transaction recreates Merial, Sanofi-Aventis’s previous joint venture with Merck....
...As part of the agreement, Sanofi also bought the option to merge Merial with Intervet, the veterinary business of Schering-Plough, now controlled by Merck....
...Intervet/Schering-Plough was subsequently valued at $8.5bn, compared with $8bn for Merial....
...Chris Viehbacher, chief executive of the French pharmaceutical group, confirmed as “highly probable” the option to combine its subsidiary Merial with the Intervet and Schering-Plough businesses now controlled...
...products with its acquisition of Alcon; GSK has strengthened its position in consumer healthcare by purchasing Stiefel for dermatology; and Sanofi-Aventis and Merck have invested in an expanded version of Merial...
...The deal will combine the French drugmaker’s Merial unit and Merck’s Intervet/Schering Plough division. Sanofi shares added 0.8 per cent to €56.17....
...Sanofi-Aventis on Friday confirmed completion after regulatory approval of its $4bn buy-out of Merck’s 50 per cent stake in Merial, giving it full control in a deal provisionally agreed in July....
...Sanofi will first pay Merck $4bn for its 50 per cent stake in Merial, its animal health joint venture with Sanofi....
...The deal values Merial on the basis of three times 2008 sales and 10.2 times 2008 EBIT, Sanofi said....
...own stake in Merial....
...Sanofi-Aventis has also expanded into generics and animal health through Merial, buying out its joint venture partner Merck, which itself will strengthen its position in animal health by taking over Schering-Plough...
...French drugmaker Sanofi-Aventis declined sharply after it announced it would buy 50 per cent of its Merial animal health joint venture from US drugmaker Merck....
...With discussions under way over a restructuring of its Merial joint venture with Merck of the US, he added: “We’re very interested in animal health …We’re very happy with Merck as a partner.”...
...French drugmaker Sanofi-Aventis fell after confirming it would buy the 50 per cent of its Merial animal health joint venture that it does not own from Merck for $4bn....
...He expressed interest in expanding in animal health, a niche in which it currently operates via Merial, a joint venture with Merck of the US, and which could expand following Merck’s acquisition of Schering-Plough...
...Bankers on Tuesday indicated that Merck might have to offer first refusal rights of Schering-Plough’s animal health products to Merial, Merck’s joint venture with Sanofi-Aventis of France....
...Merial is jointly owned by the pharmaceuticals companies Merck and Sanofi- Aventis, having been formed in 1997....
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