A statement released by the companies on Tuesday said ‘after carefully considering our individual strategic priorities, alongside the economic and regulatory environments for vaccine operations in the European Union, we have mutually agreed that it is in our best interests to manage our vaccine product portfolios independently.’According to Fast Track established in 1994, the joint venture was intended to unite the two company forces in developing and selling vaccines. However, the two now mutually feel that it’s time to end the venture.
While Sanofi’s Chief Executive, Olivier Brandicourt, is cutting costs and seeking to reshape the company’s portfolio. the French group, Merck has been seeking to exchange its animal medicines business, Merial, with a consumer health unit owned by Germany’s Ingelheim.
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