French company Vétoquinol has bucked the market by acquiring a major animal healthcare business in India. The deal involved complex intellectual property and licensing agreements, careful tax structuring and tough negotiations
On 20 August Vétoquinol became the fifth largest animal health company in India when it completed its acquisition of the animal health division of Wockhardt.
The country’s animal healthcare market is estimated to be worth around US$350 million a year, and to have grown at a rate of 7-8% over the last five years. The same rate of growth is predicted for the next five years. Some of the key corporations operating in the market include Virbac (Agrivet), Zydus Cadila, Vetcare (Provimi), Intervet and Pfizer.
Vétoquinol is an independent French veterinary pharmaceutical laboratory, which prior to the Wockhardt deal had no operations in India. The company is engaged in the research, development, production and marketing of medical and nutraceutical products. It distributes its products in 100 countries in Europe, North America, Africa, the Middle East and Asia-Pacific and has an established distribution network of 140 partners in over 80 countries.
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Rahul R Mahajan is a partner at Wakhariya & Wakhariya, a full-service law firm based in Mumbai. He can be contacted at rahul@wakhariya.com.
