On Monday, I asked after the plain delay in getting the bidders through to the next round, here — and whether that would push back the timeline for completing the overall reconstituted 50-50 joint venture between Merck and Sanofi-Avenits.
Today, as if on cue — Reuters obliges, with an update — do go read it all:
. . . .Merck and its French partner Sanofi are creating a powerhouse in veterinary drugs and vaccines, with $5.3 billion in sales and almost a third of the global market. But they have to sell some product lines to allay competition concerns.
The duo are merging Sanofi’s pet-focused Merial unit, which they once jointly owned, with Merck’s bigger, livestock-oriented Intervet business, relegating Pfizer to second place in the $19 billion animal health industry.
The divestment of some of these assets offers smaller players a chance to bulk up.
But several industry experts have said that the deal is likely to be just a prelude to more consolidation in the sector. . . .
That much is certainly true — we’ll keep you posted.