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Home Industry News Pfizer Animal Health to buy Vetnex Animal Health

Pfizer Animal Health to buy Vetnex Animal Health

8th June 2009

Pfizer Animal Health is to acquire Vetnex Animal Health.

The latter is owned by ICICI Venture, which is a private equity arm of an Indian bank.

It was announced today (June 8th) the companies had signed a definitive agreement for the transaction.

The sale is expected to be completed by August 2009. Financial terms of the deal were not disclosed.

Meanwhile, the Food and Drug Administration has approved a drug application for Pfizer Animal Health’s Palladia (toceranib phosphate).

It is the first canine therapy of its kind to be permitted and is designed to treat mast cell tumours.

Over the next few months, the company will inform veterinary specialists about the therapy. By doing this, it hopes to be able to support the professionals more effectively when the product is launched onto the market at the beginning of 2010.

The division of Pfizer offers a broad range of products to improve the health and wellbeing of animals across the world.

It has discovered and developed some of the market’s leading prescription medicines and vaccines.

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