With its acquisition of Microtek, Pfizer has signalled it is serious about getting into aquaculture. (Photo: Microtek)
Pfizer acquires aquaculture vaccine firm
Thursday, May 27, 2010, 01:20 (GMT + 9)
Pfizer Animal Health on Tuesday announced its acquisition of aquaculture vaccine firm Microtek International, Inc.
Total global fish production today surpasses that of pork, poultry, beef or dairy. Aquaculture is increasingly working to meet global demand and is estimated to make up 55 per cent of total fish production by 2017, say industry sources.
"The time is right for Pfizer Animal Health to enter the global market for aquaculture healthcare therapeutics," said Juan Ramon Alaix, president, Pfizer Animal Health.
"The integration of Microtek R&D into Pfizer Animal Health also will allow us to build a more diverse and innovative portfolio in biopharmaceuticals. The meat, dairy, egg and fish products that people enjoy for healthy living begin with a healthy food animal," he continued.
|Microtek's William Kay. (Photo: Microtek)
William Kay, PhD, president and chief executive officer of Microtek, who will continue to serve Pfizer in a consultant role, said Microtek contributes industry-leading vaccines and technology to Pfizer Animal Health, as well as complements the latter’s portfolio of health services and diagnostics for food animal production.
The terms of Pfizer Animal Health's acquisition of Microtek were not revealed.
During the last three years, Pfizer Animal Health has gone on to expand its commitment to safe food, according to Alaix.
Microtek is a privately-held company based in British Columbia, Canada, with commercialized vaccines for several fish species. Its “novel, efficient vaccine injection, oral or immersion delivery systems” help ensure long-term protection of disease in fish across Canada, the US, Chile and certain areas of Europe.
Pfizer is the world's largest research-based biomedical and pharmaceutical company, and a world leader in discovering and developing innovative animal vaccines and prescription medicines. It invests about USD 300 million annually on these ventures.
In the first quarter of this year, Pfizer Animal Health generated USD 846 million in revenue, and for full-year 2009 the amount was USD 2.8 billion, including revenue from Wyeth/Fort Dodge since Pfizer's acquisition in October.
By Natalia Real