Merck to Buy Brazilian Animal-Health Company
July 01 2016 - 3:20PM
Dow Jones News
Merck & Co. said Friday that it would acquire controlling
interest in Vallee SA, a producer of animal-health products in
Brazil, for $400 million.
Merck's animal-health business will acquire 93% of Vallee's
shares. The Brazilian company has a portfolio of over 100 products
from parasiticides to vaccines for animals such as livestock,
horses and common pets. The South American company has operations
outside of its home country in Paraguay, Venezuela, Mexico and
Bolivia.
The transaction is subject to regulatory review and closing
conditions. Merck didn't say when the deal was expected to
close.
During Merck's latest quarter, the company's animal-health
business contributed $829 million to the top line, or just about 9%
of total revenue for the drugmaker. Sales were flat compared with
the same period last year. Excluding foreign-exchange impacts, the
animal-health segment saw sales grow 9%, primarily driven by
Bravecto, a chewable tablet that kills fleas and ticks in dogs.
Write to Ezequiel Minaya at ezequiel.minaya@wsj.com
(END) Dow Jones Newswires
July 01, 2016 15:05 ET (19:05 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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