Overnight, Reuters is reporting on the Sanofi CEO's remarks -- and suggesting that deals may be announced as early as next quarter -- as New Merck, too, may shed some of its remaining legacy Organon (more recently legacy Schering-Plough) animal vaccine and parasiticides assets, in order to clear these antitrust hurdles:
. . . .Sources have told Reuters that Bayer AG, Pfizer, Boehringer Ingelheim, and Novartis AG are among the bidders eyeing the assets, which include vaccines and parasiticides.
"I would certainly confirm that there is significant interest in the assets that might be divested," Viehbacher said, declining to name potential bidders. "I think the whole industry really is recognising the strategic interest in animal health."
Merck & Co's $46 billion merger with Schering-Plough last year gave it the latter's Intervet/Schering Plough Animal Health business, which it is now combining with Sanofi's Merial in a joint venture with $5.3 billion in sales.As part of that process, Sanofi and Merck are now looking to shed assets worth several hundreds of millions of dollars, as they await regulatory approval to create a group that would hold 29 percent of the global animal health market.
"Of course we would rather not sell off anything, but the competition authorities may not see it that same way and so we have to continue our dialogue with the competition authorities in markets everywhere," Viehbacher said. . . .
I will keep you posted, but look for Abbott to be among the top three stalking horses here.
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