Pharma BD Deal Intelligence

Zoetis Inc. / PHARMAQ Holding AS

2015 · Acquisition/Merger · $765M · Complete

CALLED IT — OFF BY 6
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The coverage arc

Nov 02, 2015 Bloomberg Bullish

Bloomberg framed the acquisition as Zoetis pivoting into one of animal health's highest-growth segments, leveraging PHARMAQ's category leadership in Norwegian…

Nov 03, 2015 Fierce Pharma Bullish

Fierce Pharma reported Zoetis shareholders 'applauded' the $765M PHARMAQ deal — shares rose >5% the day of announcement on the combination of strong…

Nov 03, 2015 TheStreet Bullish

TheStreet flagged the deal as accretive long-term but neutral to 2016 adjusted earnings, with aquaculture serving as a secular protein-demand growth thesis…

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Zoetis agreed to acquire Norway-based PHARMAQ, the global leader in aquaculture health, from Permira-led investors for approximately $765M, expanding Zoetis into fish health and vaccines. Borderline by pharma vs. animal health classification — included as platform-level vaccine deal.

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Key facts

Related deals — scored

DealYearValueOutcome
Zoetis Inc. / PHARMAQ Holding AS (this deal)2015$765M82
Watson Pharmaceuticals (Actavis Inc.) / Actavis plc2012$5.9B97
Kohlberg Kravis Roberts & Co. / PRA International (Genstar Capital)2013$1.3B91
Stryker Corporation / MAKO Surgical Corp.2013$1.6B91
Quintiles Transnational Holdings Inc. / IMS Health Holdings, Inc.2016$17.6B91
DPx Holdings B.V. (JLL Partners 51% / Royal DSM 49%) / Patheon Inc. + DSM Pharmaceutical Products2013$2.6B90
Pamplona Capital Management, LLP / PAREXEL International Corporation2017$5.0B90

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