Sanofi, Merck Gear up for Animal Health Sale

by 5m Editor
5 October 2010, at 11:16pm

GLOBAL - Sanofi and Merck are preparing for the sale of their animal health assets.

Citing a report from Bloomberg, Business Week reports that Sanofi-Aventis SA and Merck & Co. plan to sell animal-health assets valued at about US$1 billion after agreeing to combine their veterinary medicine businesses this year.

Morgan Stanley, which is advising on the sale, sent out documents to prospective buyers. The process is still at an early stage and probably will not get underway until later this year, they said.