18.09.2009

French drugmaker Sanofi-Aventis SA has completed its $4 billion purchase of Merck & Co.'s half interest in their veterinary medicine business. Merial, an animal health company and a 50/50 joint venture between Merck and Sanofi-aventis, has now become a wholly-owned subsidiary of sanofi-aventis. It has sales of USD2.7bn in 2008. Following the closing of the Merck/Schering-Plough merger, Sanofi-aventis also has an option, under the terms of the agreement, to combine the Intervet/Schering-Plough Animal Health business with Merial and form a joint venture in animal health that would be equally owned by the new Merck and Sanofi-aventis. If the option is exercised by Sanofi-aventis, the formation of the new animal health joint venture would be subject to approval by the relevant competition authorities.