07 June 1999
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
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