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Merck and sanofi-aventis, owners of Merial and Intervet Schering-Plough respectively, have announced that they will not be combining the two animal health businesses as had been planned since March 2010.
In a joint announcement today, the companies said they are discontinuing their agreement primarily because of the increasing complexity of implementing the proposed transaction, both in terms of the nature and extent of the anticipated divestitures and the length of time necessary for the worldwide regulatory review process. The companies agreed that ending their plan is in the best interests of both companies and their respective shareholders, as well as the employees of Merial and Intervet/Schering Plough.
Sanofi-aventis says it remains strongly committed to its animal health activities, which it will continue to develop under the Merial brand as a growth platform of its diversified health business. Merial is one of the world's leading innovation-driven animal healthcare companies dedicated to research, development, manufacturing and commercialization of veterinary pharmaceuticals and vaccines, that generated annual sales of US $ 2.6 billion in 2010.
Merck has also stated its commitment to animal health and Intervet/Schering-Plough, a global leader in the research, development, manufacturing and sale of veterinary medicines which generated sales of US $ 2.9 billion in 2010
As a result of termination, both Merial and Intervet/Schering-Plough will continue to operate independently.