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Zoetis agrees to buy fish vaccine maker Pharmaq for $765 mln

Zoetis Inc, an animal heath company, agreed to buy Pharmaq, a pharmaceutical company catering to the aquaculture industry, for $765 million. Pharmaq is considered a market leader in sales of vaccines for farmed fish. Farmed fish account for about half of total fish consumption, up from 15 percent in 1990, the company said in a release. Oslo, Norway-based Pharmaq, which is majority owned by global investment firm Permira, generated around $80 million in revenue in 2014. Zoetis, which was spun off by drug company Pfizer Inc. in 2013, is the world’s leading seller of vaccines and medicines for livestock and household pets by sales.


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