Additional Labs and Environmental Testing Further Complement Pharmaq's Offering
to Fish Producers in Key Aquaculture Markets
PARSIPPANY, N.J.– July 1, 2020 – Zoetis today announced the acquisition of Fish Vet Group from Benchmark Holdings, PLC, as a strategic addition to its Pharmaq business which develops and commercializes fish vaccines and offers services in vaccination and diagnostics for aquaculture. Adding Fish Vet Group grows the geographic reach and enhances the diagnostics expertise and testing services, including environmental testing, that Pharmaq's reference lab Pharmaq Analytiq now can offer fish farmers in major aquaculture markets.
Fish Vet Group is headquartered in Inverness, Scotland, with diagnostic lab locations there as well as in Norway, Ireland and Chile, where it provides veterinary services and services in bacteriology, histology and PCR testing. To help fish producers comply with strict environmental standards, Fish Vet Group offers surveys and analysis to monitor potential environmental impact and inform responsible fish disease treatments as part of a sustainable aquaculture system. Tests and accompanying analyses from Fish Vet Group help producers to check the impact of existing fish farms and inform the potential for new site locations, determine and monitor seabed conditions, and provide input to required regulatory submissions. Comprehensive lab analysis includes marine and freshwater benthic taxonomy, sediment chemistry and water quality analysis.
"Raising healthy fish to meet the demands of our growing global population while respecting the environment is critical for a healthier, more sustainable future," said Rob Kelly, Executive Vice President and President of International Operations, for Zoetis. "Innovative fish health management tools, across the continuum of care and including vaccines and diagnostic testing, will help us better meet the needs of our customers. We are excited to welcome Fish Vet Group to our aquaculture team at Pharmaq and together offer fish producers the most comprehensive suite of fish health solutions."
"We are excited to join the team at Pharmaq to accelerate our offering in fish health, environment and diagnostics services," said Jan Petter Berg, Fish Vet Group Global Manager. "We look forward to continuing to serve our customers and supporting good fish health in aquaculture systems world-wide."
Farmed fish is one of the fastest growing sources of animal-based protein.1 With declining availability of wild fish and an increasing global human population, innovative fish health management tools are important to further develop a safe, sustainable supply of nutritious seafood. As the global leader in fish health and vaccines, Pharmaq, acquired by Zoetis in 2015, is dedicated to supporting sustainable growth in the global aquaculture industry. Beyond fish vaccines and therapeutics, Pharmaq also offers PHARMAQ Fishteq vaccination machines and services, and PHARMAQ Analytiq reference lab and diagnostic services which Fish Vet Group now will be a part of. Pharmaq's research and production facilities are based in Norway, with global operations in commercial fish farming markets.
Zoetis is the leading animal health company, dedicated to supporting its customers and their businesses. Building on more than 65 years of experience in animal health, Zoetis discovers, develops, manufactures and commercializes medicines, vaccines and diagnostic products, which are complemented by biodevices, genetic tests and precision livestock farming. Zoetis serves veterinarians, livestock producers and people who raise and care for farm and companion animals with sales of its products in more than 100 countries. In 2019, the company generated annual revenue of $6.3 billion with approximately 10,600 employees. For more information, visit www.zoetis.com.
About Fish Vet Group
Fish Vet Group is part of Benchmark's animal health division and represents the world's largest provider of dedicated evidence-based veterinary services, diagnostic technologies and environmental monitoring to the aquaculture sector. In addition to its Inverness headquarters, Fish Vet Group has operations in Ireland, Chile and Norway. For more information, visit: www.fishvetgroup.com.
This press release contains forward-looking statements, which reflect the current views of Zoetis with respect to business plans or prospects, future operating or financial performance, future guidance, future operating models, expectations regarding products, expectations regarding the performance of acquired companies and our ability to integrate new businesses, expectations regarding the financial impact of acquisitions, future use of cash and dividend payments, and other future events.
These statements are not guarantees of future performance or actions. Forward-looking statements are subject to risks and uncertainties. If one or more of these risks or uncertainties materialize, or if management's underlying assumptions prove to be incorrect, actual results may differ materially from those contemplated by a forward-looking statement. Forward-looking statements speak only as of the date on which they are made. Zoetis expressly disclaims any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. A further list and description of risks, uncertainties and other matters can be found in our Annual Report on Form 10-K for the fiscal year ended December 31, 2019, including in the sections thereof captioned "Forward-Looking Statements and Factors That May Affect Future Results" and "Item 1A. Risk Factors," in our Quarterly Reports on Form 10-Q and in our Current Reports on Form 8-K. These filings and subsequent filings are available online at www.sec.gov, www.zoetis.com, or on request from Zoetis.