Schering-Plough inks blockbuster bid to buy Akzo Nobel

Kenilworth, N.J. - 3/12/07 - A deal valued at $14 billion, Schering-Plough is purchasing the animal and human healthcare businesses of Akzo Nobel NV, the parent of Intervet.Pending regulatory approval, the deal is slated to close by the end of 2007.Schering-Plough officials report the two animal health businesses will be complementary and will grow its business long term.The acquisition includes Intervet's Nobivac, a range of canine vaccines; Panacur, a de-wormer; Bovilis, a bovine biological for disease control and eradication; and Nobilis, a poultry vaccine to keep flocks free from infectious disease. Schering-Plough Animal Health's business focused on treatments for cattle and companion animals, including products such as Nuflor, an antibiotic for cattle, swine and fish; Banamine, an anti-inflammatory for cattle, horses and swine; and Otomax, a canine otic ointment.Schering-Plough Animal Health and Intervet will continue to operate at their existing locations in the United States. Boxmeer, the Netherlands, will become the headquarters of the global animal health business, Schering-Plough reports.