Zoetis completes purchase of PHARMAQ

Zoetis Inc has completed the purchase of PHARMAQ, a 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 Ramon 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.
Zoetis is a leading animal health company that discovers, develops, manufactures and markets veterinary vaccines and medicines, complemented by diagnostic products and genetic tests and supported by a range of services. Zoetis serves veterinarians, livestock producers and people who raise and care for farm and companion animals with sales of its products in 120 countries.