Zoetis Inc., an animal health company spun off from Pfizer in 2013, has completed the purchase of Pharmaq, a company specializing in vaccines and health products in aquaculture, for $765 million.

Zoetis purchased Pharmaq from a company owned by Permira IV, a fund managed by the global investment firm Permira, which has been the majority owner of the company since 2013.

Zoetis discovers, develops, manufactures, and markets veterinary vaccines and medicines, complemented by diagnostic products and genetic tests and supported by a range of services. In 2014, the company generated annual revenue of $4.8 billion. It is headquartered in Florham Park, New Jersey and has approximately 10,000 employees worldwide at the beginning of 2015.

Pharmaq, which specializes in aquaculture-based products, manufactures its vaccines in production facilities in Overhalla and Oslo, Norway. Administration and research and development activities are based in Oslo with subsidiaries in Norway, Chile, United Kingdom, Vietnam, Turkey, Spain, Panama and Hong Kong. The company has approximately 200 employees. The company’s products are marketed in Europe, North and South America, and Asia.

Source: Zoetis