Gå til innholdet
Menu

November 2, 2015 - Zoetis to Acquire PHARMAQ, the Global Leader in Vaccines

 

Norwegian version

November 2, 2015

 Pharmaq Media Contact                                          

Tore Valderhaug
+47 99 56 09 25
tore.valderhaug@pharmaq.no

 Zoetis Media Contacts                                             

Bill Price
973-443-2742 
William.price@zoetis.com                                       

Elinore White                                                            
973-443-2835                                                           
Elinore.y.white@zoetis.com                                     

OSLO/OVERHALLA., November 2, 2015 – PHARMAQ (OSE:PHQ) today announced an agreement under which PHARMAQ, the global leader in vaccines and innovation for health products in aquaculture, is acquired by Zoetis for a price of $765 million on a debt-free basis.  The acquisition enables PHARMAQ to maintain and strengthen its global leadership position in the fastest growing segment of the animal health industry. Zoetis is purchasing PHARMAQ from a company owned by Permira IV, a fund managed by global investment firm Permira, which has been the majority owner of the company since 2013. 

PHARMAQ is the market leader in sales of vaccines for farmed fish, a market segment growing 10% annually.  PHARMAQ has a worldwide reputation for addressing customer needs and fast time to market with industry relevant products. The company generated revenues of approximately $80 million in 2014 and has a presence in the major aquaculture markets in the world.  PHARMAQ revenue grew at a compound annual growth rate of 17% from 2005 to 2014.  Privately-held PHARMAQ has approximately 200 employees, is based in Oslo, Norway, and has subsidiaries in Chile, the United Kingdom, Vietnam, Spain, Turkey, Panama, and Hong Kong.  

“We see a tremendous opportunity to grow our business as part of Zoetis,” said Morten Nordstad, Chief Executive Officer at PHARMAQ.  “Zoetis has proven expertise in supporting livestock producers with high-quality products and technical services that help improve animal health, productivity and profitability.  By combining our experience and R&D capabilities, we believe we can optimize our industry leading ability to develop vaccines and medicines for farmed fish. With Zoetis’ global footprint, we can deliver greater value to more customers around the world and accelerate our geographic expansion plans. This acquisition is a testimony to our success and to the highly skilled, innovative and hard-working employees of PHARMAQ.” 

“This acquisition is a great strategic fit that brings to Zoetis an animal health leader with similar competitive advantages – an industry-leading portfolio, strong customer relationships, and world-class innovation and manufacturing,” said Zoetis Chief Executive Officer Juan Ramón Alaix.  “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.”

Aquatic Health – The Fastest Growing Animal Health Segment

The market for aquatic health products serving aquaculture was valued at approximately $400 million in 20141 and has been growing 7 to 8% annually.1 This growth rate is faster than the overall livestock segment, which is growing at 6% CAGR, and the companion animal segment which is growing at 5% CAGR.2

Fish remains the most consumed animal source of protein worldwide.  Farmed fish accounts for about 50% of total fish consumption up from 15% in 1990.3 Moreover, current medicalization rates for fish rank at the lowest level of any livestock category.  Healthcare spending is expected to increase as productivity of fish farming becomes more efficient to address the rising global demand for protein.

“We are excited to welcome the team from PHARMAQ, who share our passion for supporting customers and keeping livestock healthy and productive,” said Alejandro Bernal, Executive Vice President, Strategy, Commercial and Business Development for Zoetis.  “To ensure its continued success, the PHARMAQ business will run largely as a stand-alone operation within Zoetis and maintain its focus on critical customer needs and R&D milestones.”  

The acquisition is expected to be completed on or about Nov. 10, 2015.

 For more information, visit www.pharmaq.com and www.zoetis.com

 About PHARMAQ

PHARMAQ is the world's leading pharmaceutical company supplying the aquaculture industry. The company provides environmentally sound, safe and efficacious health products to the global aquaculture industry through targeted research and the commitment of dedicated people. The vaccines are manufactured in a state of the art production facility in Overhalla and Oslo, Norway. Administration and research and development activities are based in Oslo with subsidiaries in Norway, Chile, United Kingdom, Vietnam, Turkey, Spain, Panama and Hong Kong. PHARMAQ has approximately 200 employees. The company's products are marketed in Europe, North and South America, and Asia. PHARMAQ's majority shareholder is the private equity investment firm Permira Funds. Management and employees hold a significant stake in the company. For further information, please visit our website: www.pharmaq.com

 

About Zoetis

Zoetis (zô-EH-tis) is the leading animal health company, dedicated to supporting its customers and their businesses. Building on more than 60 years of experience in animal health, Zoetis discovers, develops, manufactures and markets veterinary vaccines and medicines, complemented by diagnostic products and genetic tests and supported by a range of services. In 2014, the company generated annual revenue of $4.8 billion. With approximately 10,000 employees worldwide at the beginning of 2015, Zoetis serves veterinarians, livestock producers and people who raise and care for farm and companion animals with sales of its products in 120 countries. For more information, visit www.zoetis.com.

 

 

DISCLOSURE NOTICES

Forward-Looking Statements:  This press release contains forward-looking statements, which reflect the current views of Pharmaq with respect to business plans or prospects, future operating or financial performance, expectations regarding products, future use of cash and dividend payments, and other future events. These statements are not guarantees of future performance or actions. Forward-looking statements are subject to risks and uncertainties. If one or more of these risks or uncertainties materialize, or if management's underlying assumptions prove to be incorrect, actual results may differ materially from those contemplated by a forward-looking statement. Forward-looking statements speak only as of the date on which they are made. Pharmaq expressly disclaims any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

 

###

 

1  Based on Zoetis data on file

2  Vetnosis

3  Food and Agriculture Organization of the United Nations. 

 

 

Did you know...

WE MAKE AQUACULTURE PROGRESS

Newsfeed delivered by Meltwater News. PHARMAQ is not to be held liable for any of its content nor possible incorrect information given.

»
»
»
»
»
»
»
»
»
»

Norway

PHARMAQ AS
Head office/
Production facility
Skogmo Industriområde
Industrivegen 50
N-7863 Overhalla, Norway
Tel:+47 74 28 08 00
customer.service​@pharmaq.no


PHARMAQ AS
Production facility
Dyrskuevien 13, 2040 Kløfta
P.O.Box 152, N-2041 Kløfta, Norway
Tel: +47 23 29 85 00
customer.service​@pharmaq.no

   

PHARMAQ AS
Harbitzalléen 2A, 0275 Oslo
P.O.Box 267 Skøyen
N-0213 Oslo, Norway
Tel: +47 23 29 85 00
customer.service​@pharmaq.no

   

PHARMAQ Analytiq
Thormøhlensgate 53D
N-5008 Bergen, Norway
Tel: (+47) 23 29 85 00
kontakt@analytiq.no

   

PHARMAQ Fishteq
Havneveien 6
N-8700 Nesna, Norway
Tel:+47 941 63 150
PHQ.fishteqsupport@zoetis.com

Chile

PHARMAQ AS Chile Ltda.
Bernardino # 1981, Piso 2, Oficina 202,
Parque Empresarial San Andrés,
Puerto Montt, Chile
Tel: +56 65 248 3091
customer.service​@pharmaq.no

 

United Kingdom

PHARMAQ Ltd.
Unit 15 Sandleheath Industrial Estate,
Fordingbridge,
Hampshire SP6 1PA,
United Kingdom
Tel: +44 1425 656081
orders@pharmaq.no

Terms & Conditions of Purchase
Terms & Conditions of Sale
Tax strategy and Disclosure: Financial year ending 30 November 2017

Turkey

PHARMAQ Veteriner Ecza Deposu ve Su Ürünleri Tic.Ltd.Şti
KARACAOGLAN MAH. 6166 SK. 21 A BORNOVA/ IZMIR Turkiye
Tel: +90 232 422 23 10
customer.service​@pharmaq.no

Vietnam

PHARMAQ Ltd. VN
R. 2503, 25th Fl., Viettel Tower
285 Cach Mang Thang Tom
W.12, D10, HCMC, Vietnam
Tel : +84 28 6284 5350
customer.service​@pharmaq.no

Panama

Zoetis Panamá / PHARMAQ Panamá
Piso 2. Oficina 108. P.H. Albrook Commercial Park
Ave. Bella Vista, Ancón, Panamá
PO. Box: 0832-0588
Phone: +507 3215363
Mob.: +507 6675 1109
customer.service​@pharmaq.no

Spain

PHARMAQ Spain Aqua
Avda de Europa 20B
Parque Empresarial La Moraleja
28108 Alcobendas, Spain
Tel: +34 91 419 19 35
customer.service​@pharmaq.no

Singapore

PHARMAQ part of Zoetis
108 Pasir Panjang Road
Singapore 118535, Singapore
Tel.: +65 6933 5800
customer.service​@pharmaq.no

PHARMAQ is the global leader in vaccines and innovation for aquaculture and part of Zoetis, the world leader in animal health. The company provides environmentally sound, safe and efficacious health products to the global aquaculture industry through targeted research and the commitment of dedicated people. Production facilities, administration and research and development activities are based in Norway with subsidiaries in Chile, United Kingdom, Vietnam, Turkey, Spain, Panama and Hong Kong. PHARMAQ has approximately 300 employees. The company's products are marketed in Europe, North and South America, and Asia. For further information, visit the company's website at www.pharmaq.comPrivacy Policy. Cookie Policy. Terms of Use.

Copyright © 2016 Zoetis LLC. All rights reserved.

Utviklet av Imaker as