Sanofi, Merck to sell $1 billion in animal-health assets

Sanofi-Aventis SA and Merck & Co. have plans to sell $1 billion in animal-health assets, according to reports.

The two companies hope that this move will allow them to resolve antitrust concerns and complete the joint venture they set out on when they agreed to combine their veterinary-medicine businesses this year. The venture, which creates the world's largest animal-health business, will reach annual sales of roughly $5.3 billion before any divestments, said Chris Viehbacher, Sanofi's CEO.