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3 Apr 2018 07:00
ECO Animal Health Group plc
(AIM: EAH)
ECO Animal Health establishes a joint venture for the registration and commercialization of swine vaccine products in a number of geographies.
ECO Animal Health Ltd (ECO), a wholly owned subsidiary of ECO Animal Health Group plc, and Pharmgate LLC (Pharmgate) of Wilmington, North Carolina, USA are pleased to announce the formation of a new joint venture, ECO-Pharm Limited, based in the Republic of Ireland.
ECO-Pharm Limited will be responsible for the registration, marketing, sale and distribution of a number of Pharmgate LLC swine vaccine products in the United Kingdom, the European Union and the Commonwealth of Independent States, with the addition of further geographies currently under review. It is also expected that further vaccine products will flow from our biologicals research and development pipeline.
ECO and Pharmgate jointly established Pharmgate Animal Health in the United States of America (2010) and Canada (2011). These successful operations market their owners’ range of extensively used medicated feed additives and innovative new therapeutic compounds for livestock and poultry. Pharmgate has recently licensed and commercialised their swine vaccine products in North America through these joint ventures.
Peter Lawrence, Chairman of ECO Animal Health Group plc said, “Pharmgate shares ECO’s marketing philosophy and pursuit of lean and agile field operations and is an excellent partner in North America. We are delighted to be embarking on this new venture. Vaccines are of growing importance in Europe and now represent 30% of the total market value of the European animal health sector. This range of biologicals will complement ECO’s current product portfolio of outstanding antimicrobial and antiparasitic products for swine, adding to our ability to satisfy pork producers’ needs.”
Colin Gray, President and CEO of Pharmgate commented, “This is another important moment in the evolution of Pharmgate and our relationship with ECO. We share a progressive approach to the global market in providing products and services that meet the everyday needs of the farmer and veterinarian. Our quality and streamlined supply chain, cost conscious operational approach and extensive technical services and research are at the foundation of our values”.
The information contained within this announcement is deemed by the Group to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). Upon the publication of this announcement via a Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.
Contacts:
ECO Animal Health Group plc
| Peter Lawrence | 020 8336 6190 | |
| Marc Loomes | 020 8447 6906 | |
| Spiro Financial | ||
| Anthony Spiro | 020 8336 6196 | |
| N+1 Singer (Nominated Adviser) | 020 7496 3000 | |
| Mark Taylor, Brough Ransom | ||
| Peel Hunt LLP (Joint Broker) | ||
| James Steel, Dr Christopher Golden | 020 7418 8900 |
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About ECO Animal Health Ltd
ECO Animal Health based in London U.K. is a leader in the development, registration and marketing of pharmaceutical products for global animal health markets. Its products for these growth markets promote well-being in animals and include the novel antimicrobial, Aivlosin®, as well as a range of generic therapeutic products.
About Pharmgate LLC
Pharmgate LLC is the majority-owned US subsidiary of Jinhe Biotechnology Co., Ltd., P. R. China, the world leader in the production of chlortetracycline and other fermentation compounds, and more recently, the majority owner of Hangzhou UBEN Animal Vaccine Co., Ltd., a company manufacturing and supplying vaccines to the domestic market in China.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180402005251/en/
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