Ceva Acquires Hertape and Inova to Enter Brazil’s Top 5 Animal Health Companies25 November 2016
BRAZIL - Move will increase the group global vaccine footprint with significant entry into the ruminant, Foot and Mouth disease market and a first entry into companion animal vaccines
Ceva Santé Animale (Ceva) announced today the purchase of Hertape Saude Animale Ltda. and Inova Biotecnologia Saude Animale Ltda., 2 leading Brazilian veterinary biopharmaceutical companies. The closing is expected by end of 2016, subject to Brazilian Antitrust Authorities approval.
In addition to the innovative foot and mouth disease vaccine range that Inova produces in its high security (P3) complex, the 3 businesses share strong complementarities that will potentially establish the new business in the top 5 of the Brazilian market.
Ceva and Hertape have well established brands in the ruminant and companion animal segments with Hertape’s recent development of a vaccine for the prevention of leishmaniosis in dogs, providing an interesting additional tool for Ceva’s commitment to counter the expanding global threat from zoonotic diseases.
For Ricardo Renault, CEO, Hertape and Hugo Zanocchi, CEO, Inova: “Ceva is a great opportunity for Inova and Hertape. We discovered during negotiations that our companies share very similar values, especially a sense of entrepreneurial spirit. We are looking forward to joining Ceva and continuing the development of our site by rolling out our expertise in both Brazil and internationally”.
For Marc Prikazsky, President & CEO of Ceva: “The acquisition of Inova and Hertape is a strategic step for Ceva. The high quality manufacturing site of Inova and the expertise of its management, will allow Ceva to enter the key global market segment of FMD. Additionally, when we combine the strength of our local positions in ruminants and companion animals, this will give us the critical mass to enter Brazil’s top 5. We will invest further into Juatuba to create a global campus dedicated to ruminant vaccine development and production.”
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