Pharmgate LLC is pleased to announce an agreement to merge with ProtaTek International, Inc., a developer and manufacturer of vaccines for swine, whereby ProtaTek International Inc. will become a wholly owned subsidiary. ProtaTek currently manufactures and supplies a range of vaccines through a distributor network internationally and has technology platforms supporting a range of novel products for which approval is expected in the short term. This acquisition will permit Pharmgate to diversify its business in the USA, Canada and Latin America. The acquisition is expected to be completed in the fourth quarter of 2016.
Pharmgate will acquire the current operations in St Paul, Minnesota and Mesa, Arizona which include leased office buildings, a manufacturing facility, and development and diagnostic laboratories as well as the entire manufacturing, research, finance, and customer service workforce. This will significantly enhance Pharmgate’s expanding product portfolio.
Colin Gray, Pharmgate's President, said, “In anticipation of further consumer driven changes in medication practices of farm animals we have seen the need to diversify our product offering and biologicals are an obvious choice. Our parent company made an initial investment into a vaccines company in China in 2014. We are delighted to now complement this with an acquisition in the USA which contributes not only existing sales but also a series of novel, late stage products as well as R&D capabilities to expand the product range further. We expect a high degree of sales synergy within our North American business and significant advances in China and international markets. The acquisition provides a strong base from which to continue our growth trajectory and forms a good foundation in biologicals to be supplemented with further acquisition and internal development.”
Pharmgate LLC is the majority-owned US subsidiary of Jinhe Biotechnology Co., Ltd., P. R. China, the world leader in the production of chlortetracycline feed grade, chlortetracycline hydrochloride, salinomycin and other animal health compounds. The company has marketing or supply approvals for these products in most major markets throughout the world.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160915006410/en/Business Wire
Last updated on: 15/09/2016
PharmiWeb.com is Europe's leading industry-sponsored portal for the Pharmaceutical sector, providing the latest jobs, news, features and events listings.
The information provided on PharmiWeb.com is designed to support, not replace, the relationship that exists between a patient/site visitor and his/her physician.