Spanish pharma company sees growth in animal health
Faes Farma, a Spanish human pharmaceutical company, has bought a domestic animal health and nutrition company for Euro 20m ($29m). The Spanish human pharmaceutical company says that the acquisition of Ingaso will help it diversify its business, and it views animal health as an opportunity for further growth. Ingaso specializes in the health and nutrition of young animals, and plans to expand into eastern Europe, Ibero-America and Asia. Its turnover last year was Euro 16m. Faes, based in Madrid, says that it will retain the management of Ingaso.