Schering-Plough divests selected animal health products
Schering-Plough Corporation has announced the
successful closing of its previously announced transaction with Virbac, S.A. to
divest animal health products from selected franchises. These divestments were
requested by the European Commission as part of its October 2007 clearance of
the acquisition of Organon BioSciences N.V.
In Europe, Virbac acquired products from the
endocrine, mastitis and sulphonamide franchises of Intervet/Schering-Plough
Animal Health. The agreement does not affect the marketing of these products in
other global markets.
In a second agreement with Virbac that has also
closed successfully, Virbac acquired Prosolvin, a product from the fertility
range, for worldwide use. That acquisition also satisfied a request by the South
African Competition Commission in connection with Schering-Plough's 2007
acquisition of Organon BioSciences N.V. Virbac has acquired these assets for an
aggregate €28 million in cash.
By separate agreement announced in
April, products from Intervet/Schering-Plough Animal Health'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 will be acquired by a
subsidiary of Pfizer. The closing of that transaction is expected to take place
later this year following receipt of necessary regulatory
â€¢ Schering Plough
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