vaccines for infectious salmon anemia. (Photo: Centrovet)
Chilean Laboratory partners with French animal health company
Tuesday, November 27, 2012, 05:10 (GMT + 9)
The Chilean veterinary pharmaceutical laboratory Centrovet strategically partnered with the multinational firm Virbac Société Anonyme, in France.
According to the agreement, Virbac has purchased 51 per cent of the shares of the Centrocvt Group from its shareholders and will have the option to acquire the remaining capital stock at the end of a five year period.
It is hoped that this partnership allows Centrovet to expand globally in the industry, especially in the areas of vaccines and medicines for fish.
Proponents of the initiative also expect the Chilean laboratory becomes one of the leaders in the aquaculture healthcare industry worldwide.
Centrovet was founded in 1979 in Chile, where it produces vaccines for salmon to be administered as a shot or orally. In 2011 it received USD 58 million in revenue and more than USD 42 million in the first half of 2012.
Virbac was founded in 1968 by a French veterinarian doctor and became the first independent company in the world dedicated exclusively to animal health. In 2012, it recorded sales of around EUR 700 million, according to Diario Financiero.
Virbac is the eighth veterinary pharmaceutical company worldwide and is present in over 100 countries, with more than 28 subsidiaries and more than 3,500 employees.
Although Chile is one of the world's leading exporters of salmon, in recent years, its production was affected by health problems like the infectious salmon anemia (ISA) virus, which spread in 2007 causing a serious health, economic and labour crisis.
By Analia Murias