Zoetis
Inc. (NYSE:ZTS) today announced that it has completed the purchase
of PHARMAQ,
the global leader in vaccines and innovation for health products in
aquaculture, for a price of $765 million on a debt-free basis, having
fulfilled all closing requirements.
Zoetis purchased PHARMAQ from a company owned by Permira IV, a fund
managed by the global investment firm Permira, which has been the
majority owner of the company since 2013.
“We are very pleased to welcome the PHARMAQ team to Zoetis, and we look
forward to the future success we can build together as a market leader
in aquatic health,” said Zoetis Chief Executive Officer Juan Ramón
Alaix. “The PHARMAQ people, products and late-stage pipeline give Zoetis
a strong platform for growth in the fastest growing animal health
market.”
Zoetis plans to run the PHARMAQ business largely as a stand-alone
operation within the company to help maintain its focus on critical
customer needs and R&D milestones that will assure continued success.
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.
About PHARMAQ
PHARMAQ is the world's leading pharmaceutical company supplying the
aquaculture industry 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. 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. For further information, please visit our
website: www.pharmaq.no/.
DISCLOSURE NOTICES
Forward-Looking Statements: This
press release contains forward-looking statements, which reflect the
current views of Zoetis 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. Zoetis expressly disclaims any
obligation to update or revise any forward-looking statement, whether as
a result of new information, future events or otherwise. A
further list and description of risks, uncertainties and other matters
can be found in our Annual Report on Form 10-K for the fiscal year ended
December 31, 2014, including in the sections thereof captioned
“Forward-Looking Information and Factors That May Affect Future Results”
and “Item 1A. Risk Factors,” in our Quarterly Reports on Form 10-Q and
in our Current Reports on Form 8-K. These filings and subsequent filings
are available online at www.sec.gov,
www.zoetis.com,
or on request from Zoetis.
Zoetis Media
Bill Price, 973-443-2742
William.price@zoetis.com
Elinore White, 973-443-2835
Elinore.y.white@zoetis.com
or
Zoetis Investor
John O’Connor, 973-822-7088
john.oconnor@zoetis.com
Steve Frank, 973-822-7141
steve.frank@zoetis.com
or
PHARMAQ Media
Tore Valderhaug, +47 99 56 09 25
tore.valderhaug@pharmaq.com