Merial to Acquire Animal
Health Division
of Dosch Pharmaceuticals in India
Paris, France - December 20, 2012 -
Merial, the Animal Health division of Sanofi (EURONEXT:
SAN and NYSE: SNY), announced today that Sanofi has entered into
a binding agreement to acquire the animal health division of the Indian company
Dosch Pharmaceuticals Private Limited, creating a market entry for Merial in
that country’s strategically important and growing animal health sector. The agreement is subject to regulatory approval
and is expected to finalize sometime in the first half of 2013. Financial details were not disclosed.
Dosch
Pharmaceuticals, headquartered in Mumbai,
India, was
incorporated in 1992 and is a diversified pharmaceutical company, primarily
operating through two divisions, animal health and exports. The animal health division being acquired by
Merial has more than 86 products under 50 brands for ruminants, poultry and
companion animals. Products include an extensive range of animal health
therapeutics and nutritional feed supplements. Within the animal health
division, Dosch has a 279 member sales force, covering 18 Indian states.
“The acquisition of
Dosch’s Animal Health Division will be a significant milestone for Merial and give
us a strategic platform for our development in the Indian market,” said Jose Barella,
Chief Executive Officer of Merial. “We are convinced that the combination of
Dosch’s animal health brands and distribution strength, along with the robust
new product pipelines from both Merial and Dosch, will strongly position Merial
to become rapidly a major animal health player in India.”
“The
strong nationwide sales, marketing and distribution network of Dosch, along with
established products and people will be an ideal platform for Merial to enter
the fast developing animal health market of India,” said
Dosch Chairman and Managing Director Sanjay Doshi. “Merial’s entry will further strengthen
the existing offering of Dosch’s animal health business and provide a larger
canvas for the market and the Dosch team.”
Dosch
CEO, Dr. Sharat Tugnait and his management team will manage the future combined
operations of Dosch and Merial in India under the supervision of Mayank Parekh,
Merial.
The
animal health market in India
is estimated at more than €350 million* in 2012, and is experiencing annual
double digit growth. India
is home to the world’s largest herd of cattle and buffalo, second largest herd
of sheep and goats, and has the world’s fifth largest population of
poultry. India is also the world’s largest
milk producer.
Ambit
Corporate Finance is the financial advisor to Dosch on the transaction.
*
Internal source
About Dosch
Dosch
Pharmaceuticals, headquartered in Mumbai,
India, is a
diversified pharmaceutical company. Its animal health division has more than 86
products under 50 brands for cattle and other livestock, poultry and companion
animals. Products include an extensive
range of animal health antibiotics, anti-inflammatories;
antiparasitics
and nutritional feed supplements. Dosch has a market presence in 18 Indian
states with a 279 member sales force.
About Merial
Merial, a Sanofi
company, is a world-leading, innovation-driven animal health company, providing
a comprehensive range of products to enhance the health, well-being and performance
of a wide range of animals. Merial employs approximately 5,600 people and
operates in more than 150 countries worldwide. Its 2011 sales reached more than
2 billion euros. For more information, please see www.merial.com.
About Sanofi
Sanofi, a global and diversified healthcare
leader, discovers,
develops and distributes therapeutic solutions focused on patients’ needs. Sanofi has core
strengths in the field of healthcare with seven growth platforms: diabetes
solutions, human vaccines, innovative drugs, consumer healthcare, emerging
markets, animal health and the new Genzyme. Sanofi is listed in Paris (EURONEXT: SAN) and in New York (NYSE: SNY).
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