Merck's (NYSE: MRK) animal health division, formerly known as Intervet/Schering-Plough Animal Health, announced that effective today it will begin using the new name, Merck Animal Health. It will be known as MSD Animal Health outside the United States and Canada.
"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.
About Merck Animal Health
Today's Merck is a global healthcare leader working to help the world be well. Merck Animal Health, known as MSD Animal Health outside the United States and Canada, is the global animal health business unit of Merck. Merck Animal Health offers veterinarians, farmers, pet owners and governments the widest range of veterinary pharmaceuticals, vaccines and health management solutions and services. Merck Animal Health is dedicated to preserving and improving the health, well-being and performance of animals. It invests extensively in dynamic and comprehensive R&D resources and a modern, global supply chain. Merck Animal Health is present in more than 50 countries, while its products are available in some 150 markets. For more information, visit www.merck-animal-health.com.
This news release includes "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such statements may include, but are not limited to, statements about the benefits of the merger between Merck and Schering-Plough, including future financial and operating results, the combined company's plans, objectives, expectations and intentions and other statements that are not historical facts. Such statements are based upon the current beliefs and expectations of Merck's management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements.
The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: the possibility that the expected synergies from the merger of Merck and Schering-Plough will not be realized, or will not be realized within the expected time period; the impact of pharmaceutical industry regulation and health care legislation; the risk that the businesses will not be integrated successfully; disruption from the merger making it more difficult to maintain business and operational relationships; Merck's ability to accurately predict future market conditions; dependence on the effectiveness of Merck's patents and other protections for innovative products; the risk of new and changing regulation and health policies in the U.S. and internationally and the exposure to litigation and/or regulatory actions.
Merck undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Additional factors that could cause results to differ materially from those described in the forward-looking statements can be found in Merck's 2010 Annual Report on Form 10-K and the company's other filings with the Securities and Exchange Commission (SEC) available at the SEC's Internet site (www.sec.gov).