Merck & Co and Sanofi-Aventis have terminated their agreement to form a new animal health joint venture. Regarding the reason for the termination, the companies cited the increasing complexity of implementation and the length of time necessary for the worldwide regulatory review process.

Following the termination, each party will keep its current, separate animal health assets and businesses. Merial and Intervet/Schering-Plough will continue to operate independently. The companies added that the termination of the agreement is without penalty and each party is responsible for its own expenses.