Vétoquinol Enters the Indian Market
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LURE, France--(Business Wire)-- 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 companionand production animal markets. This family-owned group specialized exclusively in animal health is the 11th 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 Copyright Business Wire 2009
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