Novartis Animal Health today announced that it is acquiring Vericore Holdings Limited, a UK-based company focused on vaccines, parasiticides and other products for farm animals, pharmaceuticals for companion animals, and aquaculture.

Vericore, whose 1998 sales exceeded GBP 30 million (approximately CHF 80 million), will significantly strengthen the Novartis Animal Health business in the UK – one of the most important companion and farm animal markets. Financial details were not disclosed and the transaction is subject to regulatory approvals.

In addition to the commercial activities in the UK and Ireland, the acquisition of Vericore includes a 40% share of Cobequid, a Canadian-based aquaculture company holding global exclusive rights to patents for DNA-based vaccines in that field.

Hans-Beat Gürtler, CEO of Novartis Animal Health, highlighted two aims driving the acquisition: "Vericore will provide Novartis with an entrance into vaccines, a strong sub-market in the animal health business, and will strengthen our position in the UK."

Kieran Murphy, Vericore CEO, emphasized the excellent fit between the companies; "Vericore set out to build a technology-based business focused on high growth niche sectors. I am delighted that Novartis is committed to investing in the technologies that we see as important for the future of Animal Health. We are highly motivated by this deal."

With a UK staff of approximately 300, Vericore offers a range of innovative products including the vaccine brands Bovidec, Torvac and Mydiavac as well as Excis, an aquaculture product for the control of sea lice, and Isofane, a novel inhaled anaesthetic that was successfully launched this year.

Novartis Animal Health researches, develops and commercializes leading animal treatments that meet the needs of pet-owners, farmers and veterinarians. Headquarted in Basel, Switzerland, and present in 45 countries, Novartis Animal Health achieved sales of CHF 901 million in 1998 and employs a workforce of approximately 1500.

Novartis is a world leader in Life Sciences with core businesses in Healthcare, Agribusiness and Consumer Health. In 1998, Novartis Group sales were CHF 31.7 billion, of which CHF 17.5 billion were in Healthcare, CHF 8.4 billion in Agribusiness and CHF 5.8 billion in Consumer Health. The Group annually invests more than CHF 3.7 billion in R&D. Headquartered in Basel, Switzerland, Novartis employs about 82 000 people and operates in over 140 countries around the world.

Novartis acquired Vericore