Boehringer Ingelheim Animal Health enters into agreement to acquire certain assets of Fort Dodge Animal Health from Pfizer
Boehringer Ingelheim, a global pharmaceutical group of companies, together with its U.S. animal health business Boehringer Ingelheim Vetmedica, Inc., has entered into an agreement with Pfizer to acquire certain assets of Wyeth Pharmaceutical's Fort Dodge Animal Health business upon the closing of the global Pfizer-Wyeth merger, which is expected to occur early in the fourth quarter. The deal, which is subject to anti-trust clearance, significantly increases the size of Boehringer Ingelheim's companion animal and cattle portfolios.
If approved, the deal would clear the way for Boehringer Ingelheim to acquire a significant portion of the Fort Dodge product portfolio in several countries, as well as manufacturing and research facilities located in Fort Dodge, Iowa. In the U.S. and Canada, Boehringer Ingelheim will own and market the pet and cattle vaccine lines as well as a wide range of pharmaceuticals for pets, cattle and other species. In Canada, several swine vaccines are also part of the package. In Australia, Boehringer Ingelheim will own and market the Fort Dodge pet vaccines and in some European countries and in South Africa certain cattle vaccines.
"Fort Dodge Animal Health is a global industry leader recognised for its commitment to cutting-edge research and development with a product portfolio that is an excellent strategic fit with our existing product lines," said Hubertus von Baumbach, Member of the Board of Managing Directors of Boehringer Ingelheim responsible for Finance and Animal Health. "This acquisition gives us further opportunity to focus on the development of innovative animal health products through internal research and external collaboration to bring even greater benefit to veterinarians and animal owners."
Prof. Andreas Barner, Chairman of the Board of Managing Directors of Boehringer Ingelheim added that "The widening of our Animal Health business and our product portfolio is not a sales-driven decision, but rather is driven by the opportunity to add momentum to our strategy for organic growth since we will build more capabilities in the core vaccine segment and expand our already strong product lines. We look forward to applying our innovative culture to the products included in this acquisition."
About Boehringer Ingelheim The Boehringer Ingelheim group is one of the world's 20 leading pharmaceutical companies. Headquartered in Ingelheim, Germany, it operates globally with 138 affiliates in 47 countries and approximately 41,300 employees. Since it was founded in 1885, the family-owned company has been committed to researching, developing, manufacturing and marketing novel products of high therapeutic value for human and veterinary medicine.
In 2008, Boehringer Ingelheim posted net sales of 11.6 billion euro (US $17 billion) while spending approximately one-fifth of net sales in its largest business segment, Prescription Medicines, on research and development.