Virbac completes divestment of U.S. Rights to SENTINEL® brands to MSD Animal Health
02 Luglio 2020 - 8:05AM
Virbac completes divestment of U.S. Rights to SENTINEL® brands to
MSD Animal Health
Virbac, today announced the successful
completion of its divestment of the U.S. rights to its
parasiticides for dogs: SENTINEL® FLAVOR TABS® and SENTINEL®
SPECTRUM® to MSD Animal Health, a division of Merck & Co.,
Inc., Kenilworth, N.J., USA (NYSE:MRK). The consideration received
for the transaction amounted to approximately US $400 million,
subject to customary closing adjustments, settled in
cash.
Under the terms of the agreement, Virbac has
divested a combination of rights and titles for the United States
on SENTINEL® FLAVOR TABS® and SENTINEL® SPECTRUM® and will continue
to manufacture SENTINEL® SPECTRUM® at the Bridgeton, Missouri site
for the next ten years.
For Virbac, this transaction is a unique
opportunity to rebalance its North American portfolio, and focus on
products and segments where we can create and extract more value
through a better competitive advantage. At the same time, it
enables a significant deleveraging of the Group and bolsters our
flexibility for external growth with a focus on the U.S. market,
which continues to be strategic for Virbac on a long-term
basis.
“Our objective is to leverage the
benefit of this transaction by better focusing on the rest of our
existing portfolio and on our new product launches” said
François Fournier, CEO & President, Virbac North America.
The financial impacts of this divestment, to
Virbac’s revenue and operating profit before depreciation of
intangible assets arising from acquisitions (“Ebita”), are
estimated (on a full year pro forma basis) to be a decrease in
revenue of approximately US $55 million and around 3 points in the
ratio of Ebita to revenue.
Focusing on animal health from the
beginning
Virbac offers veterinarians, farmers and pet
owners in more than 100 countries a practical range of products and
services for diagnosing, preventing and treating the majority of
diseases while improving quality of life for animals. With these
innovative solutions covering more than 50 species, Virbac
contributes day after day to shaping the future of animal
health.
Press contact – Golin agency
Amina Ennaciri –
aennaciri@golin.com – +33 1 40 41 56
09Paul Joachim – pjoachim@golin.com
– +33 1 40 41 54 28
Investor contact -
VirbacManuela Rodriguez –
manuela.rodriguez@virbac.com – +33 4 92 08 72
25
About MSD Animal Health
For more than a century, MSD, a leading global
biopharmaceutical company, has been inventing for life, bringing
forward medicines and vaccines for many of the world’s most
challenging diseases. MSD Animal Health, a division of Merck &
Co., Inc., Kenilworth, N.J., USA, is the global animal health
business unit of MSD. Through its commitment to The Science of
Healthier Animals®, MSD Animal Health offers veterinarians,
farmers, pet owners and governments one of the widest ranges of
veterinary pharmaceuticals, vaccines and health management
solutions and services as well as an extensive suite of digitally
connected identification, traceability and monitoring products. MSD
Animal Health is dedicated to preserving and improving the health,
well-being and performance of animals and the people who care for
them. It invests extensively in dynamic and comprehensive R&D
resources and a modern, global supply chain. MSD Animal Health is
present in more than 50 countries, while its products are available
in some 150 markets. For more information, visit
www.msd-animal-health.com/ or connect with us on LinkedIn and
Twitter.
- Virbac completes divestment to U.S. rights to Sentinel to MSD
Animal Heath
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