Pfizer Animal Health to acquire Synbiotics Corporation
Pfizer Animal Health has announced an agreement to acquire Synbiotics Corporation, a privately held, Kansas City-based leader in the development, manufacture and marketing of immunodiagnostic tests for companion and food production animals.
Veterinary immunodiagnostics, a methodology using antigen-antibody reaction to detect viruses or bacteria in animals, is a sector growing an estimated 8% annually, twice the rate of the animal health industry as a whole. The global immunodiagnostics market is valued at $735 million, according to industry sources. Livestock producers, striving to meet increasing worldwide demand for animal-derived food protein, are placing greater emphasis on immunodiagnostics to safeguard the health of livestock animals.
"Our acquisition of Synbiotics, with its best-in-class product portfolio, promising research and development pipeline, and manufacturing capability, will bring Pfizer Animal Health closer to its goal of becoming a comprehensive solutions provider to the animal health industry," said Juan Ramon Alaix, president, Pfizer Animal Health. "By integrating animal health diagnostics with our innovative portfolio of vaccines and medicines, we can do more to help veterinarians deliver optimal care for livestock and companion animals and provide the right medicine to the right animal at the right time."
"Pfizer Animal Health is the ideal partner for Synbiotics," said Paul Hays, Chief Executive Officer of Synbiotics Corporation. "Pfizer Animal Health's global reach, commercial operations, and expertise in regulatory and marketing functions will expand customer access to products such as, the Serelisa® franchise for livestock animals, and Proflok for poultry into new markets -- especially in emerging markets. Marrying Synbiotics' R&D expertise in diagnostics with the strength of Pfizer veterinary R&D also is expected to help accelerate our diagnostic development program."
To comment, login here
Or register to be able to comment.