Boehringer Ingelheim Announces Agreement with Ceva Santé Animale for Sale of Certain Merial Assets14 October 2016
GLOBAL - Boehringer Ingelheim, Merial and Ceva Santé Animale (Ceva) have announced that Boehringer Ingelheim and Ceva, a leading global animal health company headquartered in Libourne, France, with vaccine manufacturing presence within the European Union, have entered into a binding put option agreement according to which Ceva will purchase certain assets of Merial’s portfolio in the context of Boehringer Ingelheim’s business swap with Sanofi.
Through this important step, which follows a thorough evaluation and extensive discussions with the European Commission, Boehringer Ingelheim aims to facilitate the approval process for Boehringer Ingelheim’s acquisition of Sanofi’s animal health business, Merial, by proactively offering up this divestiture to Ceva. The overall transaction, as well as the agreement announced today, remain subject to approval by the European Commission and regulatory authorities in different territories.
“This agreement is another essential milestone for completing our transaction with Sanofi. We are very pleased that we have come to an agreement with Ceva. The company has demonstrated a commitment to the growth of their animal health vaccines and pharmaceuticals businesses and Boehringer Ingelheim is confident that the successful divestment portfolio will continue to develop very successfully in the hands of this strategic buyer,” said Joachim Hasenmaier, Board Member for Animal Health at Boehringer Ingelheim.
Carsten Hellmann, CEO of Merial and Executive Vice President of Sanofi, said: “Ceva is an excellent and competitive global player in animal health vaccines and pharmaceuticals, well positioned to maintain and further develop this commercially very attractive portfolio of animal vaccines and pharmaceuticals.”
Ceva will acquire certain animal health vaccines and pharmaceuticals from the Merial portfolio for swine, bovine and companion animals as well as related intellectual property, manufacturing processes and R&D activities. The package contains the following brands: Circovac (excluding US), Progressis, Mucosiffa, Parvovax, Parvoruvax, Equioxx (excluding US), Genixine, Ketofen® 1 per cent injection and tablets (excluding Canada) and Ketofen® 10 per cent injection (excluding Canada)]. The divestiture does not include the transfer of a manufacturing site, but will be implemented by means of a transfer of all relevant assets.
Dr Marc Prikazsky, Chairman & CEO of Ceva Santé Animale: “The addition of these veterinary products for swine, bovine and companion animals will strongly complement our existing portfolio. We are highly committed to further develop these successful brands and to continue providing customers with innovative veterinary products to meet their current and future needs.”
In June 2016, Boehringer Ingelheim and Sanofi signed definitive agreements to swap businesses. The proposed transaction will consist of an exchange of Sanofi’s animal health business Merial and Boehringer Ingelheim’s consumer healthcare business. In order to complete the proposed swap transaction, the approval of regulatory authorities in different territories needs to be obtained. This includes the approval of the European Commission. After approving the consumer healthcare part of the transaction, the European Commission is currently reviewing the animal health transaction.
Closing of the BI/Sanofi swap transaction is expected by year-end 2016, upon receipt of all required regulatory approvals.
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