WASHINGTON Dec 28 The U.S. Federal Trade
Commission said on Wednesday that German pharmaceutical company
Boehringer Ingelheim agreed to divest five types of animal
health products to settle FTC charges that a proposed asset swap
with Sanofi would harm competition.
The proposed asset swap involved Boehringer Ingelheim's
acquisition of Sanofi's $13.5 billion animal care
subsidiary and Sanofi's obtaining the Germany company's consumer
health care business unit, valued at nearly $8 billion, the FTC
The FTC said in a statement that without the divestitures,
the proposed swap "would harm competition in the U.S. markets
for various vaccines for companion animals (pets) and certain
parasite control products for cattle and sheep."
(Reporting by Doina Chiacu; Editing by Marguerita Choy)