Zoetis Inc. agreed to purchase PHARMAQ, the global leader in vaccines and innovation for health products in aquaculture, for a price of $765 million, which will strengthen Zoetis’ core livestock business. Zoetis is purchasing PHARMAQ from a company owned by Permira IV, a fund managed by the global investment firm Permira.
PHARMAQ is the market leader in sales of vaccines for farmed fish, a market segment growing 10% annually, according to a press release. The company generated revenues of approximately $80 million in 2014 and has a presence in the major aquaculture markets in the world.
“We are gaining a new platform for growth and value creation that we can expand. PHARMAQ strengthens our core livestock business by providing market leadership in aquatic health and a strong late-stage pipeline in the world’s largest category of protein and fastest growing animal health market,” said Zoetis Chief Executive Officer Juan Ramón Alaix.
With this acquisition, Zoetis adds vaccine brands such as AlphaJect (an injectable vaccine) to its diverse portfolio of more than 300 product lines.
Zoetis expects to complete the acquisition on or about Nov. 10, 2015. Read the full release