New York Stock Exchange (NYSE) listed veterinary drug giant Zoetis on Tuesday announced it reached an agreement to acquire fish health group Pharmaq for $765 million (€693.6 million) from private equity firm Permira.

Pharmaq is the market leader in sales of vaccines for farmed fish, and generated revenues of approximately $80 million (€72.5 million) in 2014. It has a presence in the major aquaculture markets in the world.

Zoetis is one of the world's leading veterinary vaccine and health providers, with $4.8