“The name change reflects Merck's commitment to animal health and its complementary role to the overall business," said Raul Kohan, President of Merck Animal Health. "We are unwavering in our commitment to veterinarians, producers, pet owners and society as a whole. We aim to generate additional value and sustained growth by continuing to provide integrated solutions with innovative animal health products and services to meet the evolving needs of our customers."
Mr. Kohan continued, "With the scientific and business backing of Merck, Merck Animal Health possesses the necessary mix of resources to enhance our position as an industry leader."
Merck Animal Health is a global leader in the research, development, manufacturing and sale of veterinary medicines and vaccines, with a strong presence in biologics and pharmaceuticals. The division generated global sales of $2.9 billion in 2010.
Merck values the diversification that Merck Animal Health brings to its portfolio, and sees growth opportunities in the business that can be leveraged across both animal and human health. The company intends to capitalize on Merck Animal Health's broad and innovative portfolio going forward, and to develop the unit into a best-in-class global animal health leader.
The name change follows the joint announcement on March 22, 2011 by Merck and sanofi-aventis that ended plans to form a new animal health joint venture. Both companies mutually decided to discontinue their agreement primarily because of the increasing complexity of implementing the proposed transaction.