Pfizer Animal Health confirmed today that the agreement to acquire multiple product franchises from the Schering-Plough Corporation has been completed - and approved by the European Commission. Pfizer has acquired these assets for approximately euro 116 million in cash.
The agreement covers all European Union countries and the franchises include all major animal health species including cattle, swine, equine and companion animal. Pfizer executives say the agreement leaves them with the most in-depth coverage of therapeutic areas, and the most highly recognised brands, in the industry.
Precise details of the agreement are not being released although additional information on the products concerned will be the subject of further announcements in due course.
Pfizer has acquired certain rights to the following products in the European Economic Area:
• The Gletvax range of swine E.coli vaccines
• The Equip range of equine Influenza and Tetanus vaccines
• The Covexin range of ruminant Clostridial vaccines
• Lactovac –C, a cattle neonatal vaccine
• Rabdomun, a Rabies vaccine
• Companion animal specialist products Insuvet and Eutha 77
• The Autoworm range of parasiticides, Coopers Spot-On in the UK, Coopers Spot-On CY in Ireland and Versatrine in France
• Quadrisol 100, anti-inflammatory product
Agreement "serves both customers and the companies involved"
Albert Bourla, President of Pfizer Animal Health in Europe, said he was delighted at the conclusion of an agreement which served both Pfizer Animal Health and Schering-Plough, and the customers of the two companies.
"Pfizer"e;s existing product range of trusted and well known brands is one of the most complete on the market, but these new products add to that depth to cover an even wider range of therapeutic areas," he said.
"There is a perfect strategic fit. For example, we had the most recognised cattle vaccine range in Europe, but we did not have a clostridial vaccine – with the acquisition of the Covexin range we are getting one of the most well known clostridial vaccines.
"It is important that this entire range of products continues to be available to the market and Pfizer has the market reach and critical mass to ensure that they continue to benefit from a strong distribution and service network, and high calibre technical support.
"This represents a significant expansion of our product portfolio and strengthens our long term commitment not just to veterinary surgeons, but also to farmers and pet owners. Pfizer spends hundreds of millions of dollars on research and development every year, and brings more new products to market than any other company, but when the opportunity arose to add well known, well respected brands to a portfolio that is already extremely strong, we had little hesitation in taking it."
The diversity of newly acquired products will strengthen Pfizer"e;s comprehensive portfolio across key areas of animal health.
The Gletvax® range of Swine E.coli vaccines will bolster the company"e;s existing swine products, providing inactivated protection against a number of strains of the bacterial infection. The range includes NeoGletvax, Gletvax Plus, Gletvax 5 and Gletvax 6/Toxicol.
Inactivated equine influenza and tetanus vaccines are also included in the product acquisition, and include Equip F, T and FT products, to reduce clinical signs and virus excretion, as well as preventing and controlling mortality.
The popular Covexin® range of ruminant neonatal and clostridial vaccines will also become a key part of the Pfizer portfolio. Covexin 8, 8a/Tasvax Huit, 10 and Blackleg provide significant disease protection in sheep, beef and dairy sectors. The inactivated vaccines deliver broad spectrum protection against a number of clostridial organisms.
In a focus on cattle neonatal performance, the Lactovac vaccine range will provide protection against ruminant neo-natal Diarrhoea (scours). The products, Lactovac C and Lactovac, contain rotavirus strains 1005/78 and Holland, coronavirus strain 800 and E. coli K99/F41 soluble antigen.
However the product acquisition is not restricted to the farming sector, as the companion animal portfolio will also be strengthened.
Rabies vaccines (Rabdomun/Quantum Rabies), containing virus strain Flury LEP have been acquired, for active immunisation of cats and dogs.
Moreover, companion animal veterinary specialty products will become part of the Pfizer range. Specifically, the Insuvet product line, a bovine-based insulin, indicated for the treatment of insulin dependent diabetes mellitus in dogs and cats. This includes: Insuvet Lente, Insuvet Neutral and Insuvet Protamine Zinc. Eutha 77, a barbiturate (pentobarbital) indicated for the euthanasia of cats, dogs and other small animals is also included in the acquisition.
Finally, Pfizer will acquire a number of parasiticides and Anti-inflammatories, including the Autoworm and Coopers ranges. Autoworm/Systamex is a pulsatile release intra-ruminal device designed to treat both adult and immature gastrointestinal roundworms, lungworms tapeworms in cattle.
Coopers Pour On/Spot-On (UK)/ Spot-On CY (Ireland)/Versatrine/Sputop are topical ectoparasiticide to control lice, flies, ticks, keds and established blowfly strike on cattle, sheep and lambs.
The comprehensive range will add significant capability to Pfizer"e;s broad product portfolio.