NZ's AgVax acquired by Dutch firm Intervet
Thursday, 11 August, 2005
New Zealand-based animal vaccine specialist AgVax Developments has been taken over by Intervet, a business unit of Dutch healthcare giant Akzo Nobel.
Intervet aims to extend its market presence in New Zealand with the acquisition of AgVax, a subsidiary of AgResearch with 18 employees and a 2004 turnover of about NZ$20 million (AUD$18.24 million).
AgVax markets and distributes vaccines against common infections of sheep, and reproductive vaccines. They include vaccines against toxoplasmosis and Campylobacter infections in sheep, and Yersinia pseudotuberculosis, which causes lethal scouring in farmed deer.
AgResearch hired PricewaterhouseCoopers in April to sell AgVax by tender. Completion of the agreement is subject to shareholder approval.
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