Sanofi to expand animal health business in India

PARIS Thu Dec 20, 2012 5:46pm IST

Related Topics

Stocks

   

PARIS (Reuters) - Sanofi (SASY.PA) said its Merial unit signed an agreement to buy the animal health business of drugmaker Dosch Pharmaceuticals to boost its presence in the growing Indian market.

The deal is expected to be finalised in the first half of 2013, Sanofi said on Thursday. Financial details were not disclosed.

Dosch's animal health business sells more than 86 products destined for livestock and pets, including medicines and feed supplements.

"The acquisition of Dosch's animal health division will be a significant milestone for Merial and give us a strategic platform for our development in the Indian market," Merial Chief Executive Jose Barella said in a statement.

Animal health is one of the businesses Sanofi is focusing on to drive growth after the loss of its top-selling drugs to generic rivals.

The animal health market in India was valued at more than 350 million euros in 2012 and is experiencing annual double-digit percentage growth, according to Sanofi data.

India is home to the world's largest herd of cattle and buffalo, second-largest herd of sheep and goats, and has the world's fifth-largest poultry population.

The country is also the world's largest milk producer.

Shares in Sanofi, which have risen around 26 percent since the start of 2012, were trading 0.5 percent higher at 71.51 euros at 1149 GMT, slightly outperforming the CAC 40 index, up 0.1 percent.

(Reporting by Elena Berton; Editing by Christian Plumb and James Regan)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Retaining talent, reviving company

REUTERS SHOWCASE

Mars Mission

Mars Mission

India triumphs in maiden Mars mission  Full Article 

Asian Markets

Asian Markets

Asia stocks hit by Syria air strikes  Full Article 

Pharma Sector

Pharma Sector

India withdraws regulator's power to cap non-essential drug prices  Full Article 

New Plants

New Plants

Canadian auto parts maker Magna to open two new plants in Gujarat.  Full Article 

Reduced Package

Reduced Package

Oracle's Ellison got $67.3 million as CEO in 2014  Full Article 

Breaking Up

Breaking Up

Philips to split off lighting business, form separate company.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage