Schering-Plough divests animal health products
Schering-Plough Corporation has announced two
agreements to divest animal health products from 12 product franchises in
These agreements are in connection with conditions set forth by the
European Commission as part of its October 2007 clearance of Schering-Plough's
acquisition of the Intervet animal health business from Akzo Nobel N.V.
In two separate agreements, Pfizer and Virbac, a French animal health
company, will acquire the 12 product franchises. Pfizer will acquire products
from Schering-Plough's parasiticide, swine E. coli vaccine, ruminant clostridia
vaccine, equine influenza vaccine, ruminant neonatal vaccine, anti-inflammatory,
companion animal/insulin and companion animal/euthanasia, and rabies vaccine
franchises. Virbac will acquire products from Schering-Plough's endocrine,
mastitis and sulphonamide franchises. The agreements do not affect
Schering-Plough's marketing of these products in other global markets.
According to Schering-Plough, no manufacturing facilities or employees will
be transferred with these products. The company will supply products to both
Pfizer and Virbac with oversight from a monitoring trustee for a contractually
defined period of time. The transactions are subject to certain closing
conditions, including regulatory approval by the European Commission.
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