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11 billion deal seals SP buyout

Economics +1 more

NEW JERSEY - Schering-Plough Corporation has completed the acquisition of Organon BioSciences from Akzo Nobel. The deal has cost the company approximately Euro 11 billion in cash and creates the world's largest animal health organisation.

SP says that the acquisition creates a stronger combined company with broader human and animal health portfolios. It also expands its opportunities for development and pipeline capabilities and provides SP with a robust biologics manufacturing capability and key market positioning in a number of areas.


"By bringing together complementary businesses, we will be growing even stronger and even better in our people, products and science," said Fred Hassan, chairman and chief executive officer, Schering-Plough Corporation. "We will be working hard for our customers, for the patients, for our other stakeholders and for our shareowners," he added.

Schering-Plough's agreement to acquire Organon BioSciences was announced on March 12, 2007. Organon BioSciences is comprised primarily of Organon, a human health business, and Intervet, an animal health business. It also includes a human vaccine development unit and a third-party manufacturing unit of Organon.

"We increase our science strength, and we increase our scale in Animal Health, said Hassan. "This greatly increases the value we will bring to customers. We see this strong combined Animal Health unit as a key strategic part of our integrated business that will contribute to long-term high performance."

Portfolio boost
In Animal Health, a portfolio of additional vaccines for major animal species will come under the Schering Plough umbrella. These include product ranges such as VISTA/BOVILIS, for respiratory and reproductive infectious diseases in cattle; PORCILIS, a range of viral and bacterial vaccines for pigs; the NOBILIS range of live and inactivated vaccines protecting poultry against a spectrum of viral and bacterial diseases; plus a range of companion animal vaccines.

Schering-Plough will also have anti-parasitic such as SAFE-GUARD/PANACUR, a de-wormer for use in many animal species; anti-infectives such as COBACTAN, a broad-spectrum antibiotic for livestock species and horses; and specialty products such as VETSULIN/CANINSULIN, a diabetes treatment for dogs and cats.

These products expand on Schering-Plough's growing presence in this market with products such as NUFLOR, a broad-spectrum antibiotic for cattle, swine and fish, a combination antibiotic and anti-inflammatory for bovine respiratory disease; as well as the company's animal health services, including HOMEAGAIN, a US proactive pet recovery network.

Further Reading

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