Boehringer Ingelheim and Sanofi announced Monday the businesses have officially swapped assets in most markets.

The announcement comes after last week’s agreement with the Federal Trade Commission in which Boehringer agreed to divest several animal health products in the United States.

Monday,Boehringer and Sanofi confirmed that the transaction signed in June 2016 consisting of an exchange of Sanofi’s animal health business (Merial) and Boehringer Ingelheim’s consumer healthcare (CHC) business, has successfully closed in most markets. Over the past few years, the animal health sector has seen increased consolidation activity. Boehringer said by uniting the strengths of Merial with Boehringer Animal Health, it has created the second largest animal health business in the world.

“The U.S. animal health market will be the largest for Boehringer Ingelheim, representing about 40 percent of annual sales,” said Rene Ward, Dir. of Public Relations for Boehringer. “In the U.S. we are now the No. 1 animal health company in the pet market by revenue, the No. 1 animal health company in parasiticides by revenue and the No. 2 largest U.S. animal health company by revenue.”

To view the press release on the closing of the business swap that took place Jan. 1, 2017 CLICK HERE.