Merial, the animal health division of Sanofi, announced that Sanofi has entered into a binding agreement to acquire the animal health division of the Indian company Dosch Pharmaceuticals, creating a market entry for Merial in that country’s strategically important and growing animal health sector. The agreement is subject to regulatory approval and is expected to finalise sometime in the first half of 2013. Financial details were not disclosed.
Dosch Pharmaceuticals, headquartered in Mumbai was incorporated in 1992 and is a diversified pharma company, primarily operating through two divisions, animal health and exports. The animal health division being acquired by Merial has more than 86 products under 50 brands for ruminants, poultry and companion animals. Products include an extensive range of animal health therapeutics and nutritional feed supplements. Within the animal health division, Dosch has a 279 member sales force, covering 18 Indian states.
Jose Barella, Chief Executive Officer, Merial, “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. We are convinced that the combination of Dosch’s animal health brands and distribution strength, along with the robust new product pipelines from both Merial and Dosch, will strongly position Merial to become rapidly a major animal health player in India.”
Sanjay Doshi, Chairman and Managing Director, Dosch said, “The strong nationwide sales, marketing and distribution network of Dosch, along with established products and people will be an ideal platform for Merial to enter the fast developing animal health market of India. Merial’s entry will further strengthen the existing offering of Dosch’s animal health business and provide a larger canvas for the market and the Dosch team.”
Dr Sharat Tugnait, CEO, Dosch, and his management team will manage the future combined operations of Dosch and Merial in India under the supervision of Mayank Parekh, Merial Country Manager for India.
The animal health market in India is estimated at more than €350 million in 2012, and is experiencing annual double digit growth. 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 population of poultry. India is also the world’s largest milk producer.
Ambit Corporate Finance is the financial advisor to Dosch on the transaction.
EP News Bureau – Mumbai
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