Pfizer completes Embrex acquisition
Pfizer Animal Health has completed its acquisition of US-based Embrex, the manufacturer of the Inovoject poultry vaccination system. The deal, announced in December 2006 (Animal Pharm No 602, p 1), was just approved by Embrex shareholders for a price of around $155m. Embrex will keep its headquarters in the Raleigh-Durham, North Carolina, area. The company, which has been delisted from the NASDAQ stock exchange, is now a fully owned subsidiary of New York-based Pfizer, which re-enters the poultry business for the first time since 2000, when it sold its feed-additive business to Phibro (Animal Pharm No 454, p 17).