April 15, 2007

 

 Schering-Plough acquires Intervet - April 15, 2007

 
Schering-Plough acquires Intervet
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Schering-Plough Corp. has announced a $14.4 billion transaction to acquire Organon BioSciences, parent of Organon and Intervet—the human and animal health care businesses of Akzo Nobel.

"With this acquisition, Schering-Plough will become a leading animal health care company, with premier biologics capabilities," said Fred Hassan, Schering-Plough chairman and chief executive officer.

Intervet, with sales of about $1.5 billion in 2006, is one of the top three animal health care companies in the world. Its products include canine vaccines, a dewormer for large and small animals, a bovine biological for disease control and eradication, and a poultry vaccine to keep flocks free from infectious disease.

Some of the products from Schering-Plough Animal Health are an antimicrobial for cattle, swine, and fish; an anti-inflammatory for cattle, horses, and swine; and an otic ointment for dogs.

Schering-Plough Animal Health and Intervet will continue to operate at their current locations in the United States and the Netherlands, respectively. The headquarters of the global animal health business will be in the Netherlands, but Schering-Plough will maintain its pharmaceutical leadership team and competencies in the United States.