The Rising Influence of Rising Affluence

[DewDiligence]

ZTS acquires private fish-farming pharma company for $765M in cash:

http://finance.yahoo.com/news/zoetis-acquire-pharmaq-global-leader-220200132.html

Zoetis Inc. today announced an agreement to purchase PHARMAQ, the global leader in vaccines and innovation for health products in aquaculture, for a price of $765 million on a debt-free basis.

PHARMAQ is the market leader in sales of vaccines for farmed fish, a market segment growing 10% annually. 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.