European Go-Ahead for Pasteur Merieux MSD

The European Commission has given the go-ahead for the joint venture being set up by French company Pasteur Merieux Serums et Vaccins, which is part of the Rhone-Poulenc group, and the US pharmaceutical company Merck & Co. Effective November 1, 1994, the new company will be known as Pasteur Merieux MSD, and will be based in Lyon, France, with around 600 employees across Europe.

Pasteur Merieux MSD's objectives are: - to promote and distribute all vaccines coming from both parent companies; - to foster the development of new combination vaccines; - to develop and participate in the coordination of R&D programs designed to satisfy European requirements; and - to encourage cost-effective preventative medicine in Europe through the distribution of its comprehensive range of vaccines.

The new company will be headed by Boyd Clarke as president and Michel Greco of Merieux as director. Sales are expected to be around 2 billion French francs ($377.2 million) annually.