EU OKs Largest Animal Health Company In The World
An EU Merger Regulation approval decision by the European Commission, EC has opened up the way for the creation of the largest animal health company in the world. The acquisition, by the US pharmaceutical company Schering-Plough Corporation, of Organon BioSiences which owns the animal health products company Intervet, is now expected to complete by the end of the year.
Intervet is currently the 3rd largest animal health company globally, by sales with a worldwide staff of over 5,000.
Organon is a the holding company for the human and animal healthcare activities of the Akzo Nobel Corporation.
The EUR 11 billion deal was announced in March and Schering-Plough still needs to secure certain regulatory approvals, including clearance from the US Federal Trade Commission (FTC).
The resulting combined animal health organisation would have a reported annual sales figure of $2.318 billion.