July 1, 2009
The independent affiliate office of Kelley Drye & Warren LLP in Mumbai, India represented Vetoquinol S.A. in its acquisition of the animal health business of Wockhardt Limited. Wockhardt is the sixth largest pharmaceutical company in India. This acquisition will permit Vétoquinol to enter India's growing animal health care market with an initial market share of more than 5 percent. The growth of the Indian market is forecast both in the production and companion animal sectors, strengthening Vétoquinol's position in its strategic areas.
"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 characterized by strong growth," stated Etienne Frechin, chairman of Vétoquinol.
This transaction is subject to the necessary administrative approvals and is expected to take effect in the second half of 2009.
Vétoquinol is a family-owned, independent French veterinary pharmaceutical laboratory. It is the 11th largest laboratory in the world, and nearly 80% of its revenues come from outside of France. Vétoquinol engages in the research and development, production and marketing of medical and nutraceutical products. The company has positioned itself in the curative sector, and has expertise in three therapeutic fields: anti-infectives, pain management and anti-inflammatories, and cardiology and nephrology. It currently distributes its products in 100 countries throughout Europe, North America and Asia, with subsidiaries in 22 different countries and a network of 140 distributor partners. It employs more than 1,400 people worldwide.
Wockhardt is a global pharmaceutical and biotechnology company with an innovative multi-disciplinary research and development program. It has five research centers and 15 world-class manufacturing plants in countries throughout the world.
Kelley Drye & Warren LLP is a multidisciplinary law firm with five offices in the United States, an office in Brussels and an independent affiliate in India.