Hoechst may sell veterinary unit
Hoechst, the German pharmaceuticals company merging with Rhone-Poulenc, is considering proposals to dispose of its veterinary supplies business, worth about $1bn.
The sale, HR Vet, is thought to be part of a 16bn ($16.4bn) disposal programme agreed as part of Hoechsts merger with the French company.
The veterinary business develops, manufactures and supplies products for farm and domestic animals. Its products include anti-parasitics, vaccines and feed additives but it has recently suffered static growth.
The business reported sales of DM 878m (449, $463m) in 1998 – a decline of 2.6% on the previous year. Operating profits at the business, fell by almost 5% to DM 118m.
- Financial Times 07/06/99 page 28