Regulatory News:
Vétoquinol (Paris:VETO) today announced the signing of an agreement for
the acquisition of the Animal Health Division of Wockhardt Limited,
based in Mumbaï, India.
The Animal Health Division of Wockhardt: the sixth largest animal
health company in India
Established in 1970, the Animal Health Division of Wockhardt has annual
sales of roughly 12 million euros, enjoying an annual growth above 10%
over the past three years. The Division markets a line of products for
veterinarians and breeders, concentrating mainly on products for
production animals such as dairy cattle and poultry. The company’s
distribution network covers a large portion of the Indian territory with
a strong sales force of 140 reps.
Thanks to its experienced team and its program of active innovation, the
Animal Health Division of Wockhardt has launched thirteen new products
in the past three years and plans to introduce a few more new products
in the 2009/2010 period.
The acquisition will strengthen Vétoquinol’s position in the growing
Asian market
This acquisition will permit Vétoquinol to enter the very promising
Indian market with an initial market share of more than 5%. The growth
in the Indian market is forecast both in the production and companion
animal sectors, strengthening Vétoquinol’s position in its strategic
species.
“This is a very attractive acquisition at the core of our strategy of
external growth. It will enable us to pursue our goal of geographic
diversification in markets characterised by strong growth,” stated
Etienne Frechin, Chairman of Vétoquinol. “We should be able to
achieve major synergies rapidly, particularly through the marketing of
Vétoquinol’s products.”
The transaction is subject to the receipt
of the necessary administrative approvals, and should take effect in the
second half of 2009.
Upcoming events: July 16, 2009,
First half 2009 revenues
About Vétoquinol
Vétoquinol is an independent
veterinary pharmaceutical laboratory serving both the companion
and
production animal markets. This family-owned group specialized
exclusively in animal health is the 11
th
largest laboratory in the world, and nearly 80% of Vétoquinol’s revenues
come from outside France.
Vétoquinol engages in the research
and development, production and marketing of medical and nutraceutical
products. Vétoquinol has positioned itself in the curative sector, and
has developed expertise in three therapeutic fields: anti-infectives,
pain management and anti-inflammatories, and cardiology and nephrology.
The
Group currently distributes its products in one hundred countries
throughout Europe, North America and Asia, with subsidiaries in 22
different countries and a network of 140 distributor partners. The
Company has more than 1,400 employees worldwide.
About Wockhardt
Wockhardt is a technology-driven
global pharmaceutical and biotechnology major with an innovative
multi-disciplinary research and development programme. It has 5 research
centres and 15 world-class manufacturing plants dotting various
countries and continents that are compliant to international regulatory
standards such as the US FDA, MHRA and other global regulatory bodies.
More information:
www.vetoquinol.com
.
OUR BUSINESS: ANIMALS. OUR ADVANTAGE: PEOPLE.
VETOQUINOL
Finance Department
Pierre KONAREFF
Tel:
+33 (0)3 84 62 59 88
relations.investisseurs@vetoquinol.com
or
KEIMA
COMMUNICATION
Investor Relations
Emmanuel
DOVERGNE
Tel: +33 (0)1 56 43 44 63
emmanuel.dovergne@keima.fr
or
Media
Relations
Alix HERIARD DUBREUIL
Tel: +33 (0)1 56 43 44
62
alix.heriard@keima.fr