NEW YORK, May 25 /PRNewswire-FirstCall/ -- Pfizer Animal Health today announced its acquisition of Microtek International, Inc., a recognized innovator in aquaculture vaccines, R&D and healthcare diagnostic services. The acquisition further expands Pfizer's commitment to a safe food supply from healthy beef and dairy cattle, swine, poultry and, now, fish.
Total global fish production – largely for human consumption – now exceeds that of pork, poultry, beef or dairy. Farmed fish production is becoming increasingly important in meeting global demand and is anticipated to account for 55% of total fish production by 2017, according to 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."
William Kay, Ph.D., president and chief executive officer, Microtek, who will continue to serve Pfizer in a consultant role, said, "Microtek not only brings to Pfizer Animal Health industry-leading vaccines and technology, but also complements Pfizer's portfolio of health services and diagnostics for food animal production."
Terms of Pfizer Animal Health's acquisition of Microtek were not disclosed.
A growing Pfizer global commitment to safe food
According to Mr. Alaix, during the last three years, Pfizer Animal Health has continued to expand its commitment to a safe food supply.
In addition to acquiring last year a substantial portion of Wyeth/Fort Dodge Animal Health's biological and pharmaceutical R&D, manufacturing and food animal products and services, Pfizer Animal Health also:
Microtek International, Inc. is a privately-held company based in British Columbia, Canada, with commercialized vaccines across a number of fish species. Novel, efficient vaccine injection, oral or immersion delivery systems help to ensure long-term protection of disease in fish across Canada, the U.S., Chile, and parts of Europe. Microtek has a robust product pipeline focused on addressing unmet or underserved needs in farmed fish health. An extensive Microtek research network also includes alliances with leading universities in Canada, U.S. and in Europe. For more information, visit www.Microtek-Intl.com.
About Pfizer Animal Health
Pfizer Inc. (NYSE: PFE), the world's largest research-based biomedical and pharmaceutical company, also is a world leader in discovering and developing innovative animal vaccines and prescription medicines, investing an estimated $300 million annually. In the first quarter of 2010, Pfizer Animal Health generated revenue of $846 million, and for full-year 2009, $2.8 billion, including revenue from Wyeth/Fort Dodge since Pfizer's acquisition in October.
In addition to helping assure a safe, global food supply from healthy food animals, Pfizer Animal Health also helps dogs, cats and horses to live healthy longer. For additional information on Pfizer's portfolio of animal products and services, visit www.PfizerAnimalHealth.com.
|SOURCE Pfizer Inc.|
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