LURE, France & KORIYAMA, Japan--(BUSINESS WIRE)--Regulatory News:
Vetoquinol (Paris:VETO) and Nippon Zenyaku Kogyo Co., Ltd., also operating under the trade name "Zenoaq", announced today the signature of a joint-venture agreement to develop, register and market a range of animal health products in Japan.
Headquartered in Koriyama, on Zenoaq's main site, the joint-venture company named Vetoquinol-Zenoaq K.K. will focus on companion animal products, all selected from Vetoquinol's global reference products. Zenoaq, with its large sales force and powerful logistics coverage, will market in exclusivity the selected products once all necessary marketing authorizations are obtained.
Matthieu Frechin, Vetoquinol's CEO, declared: "this long term partnership with a Japanese family-owned company will boost the development of our presence in Japan, one of the 10 largest animal health markets in the world. While we plan to maintain existing distribution agreements with other distributors, our joint venture will allow us to launch in Japan our most innovative companion animal health solutions".
Dr. Kuniaki Fukui, Zenoaq's CEO stated: "this partnership with Vetoquinol will allow us to complete our portfolio of products for companion animals and offer Japanese veterinary clinics one of the best and most comprehensive companion animal portfolio".
Vetoquinol-Zenoaq K.K. is expected to start its operations in January 2016, as soon as the administrative formalities of establishment are completed.
Vetoquinol is a leading global player in the animal health sector serving both the livestock (cattle and pigs) and pet (dogs and cats) markets.
An independent pure player, Vetoquinol designs, develops and sells veterinary drugs and non-medicinal products in Europe, the Americas and the Asia Pacific region.
Since its foundation in 1933, Vetoquinol has pursued a strategy combining innovation with geographical diversification. The Group's hybrid growth is driven by the reinforcement of its product portfolio coupled with acquisitions in high potential growth markets. Vetoquinol employs 2,024 people.
Vetoquinol has been listed on NYSE Euronext Paris since 2006 (symbol: VETO).
For further information, go to: www.vetoquinol.com.
Next update: Vetoquinol 2015 full-year sales, January 21, 2016 (after market close)
Established in 1946, Zenoaq is a leading animal health company in Japan. With a workforce of nearly 700 employees and the generation of ¥24.2 billion in sales (approximately US$195 million) in the 2014 fiscal year, Zenoaq has a solid business model focused on R&D, manufacturing and importation of animal health products, contributing to a broad product portfolio for production and companion animals. In addition, Zenoaq, headquartered in Fukushima, has the widest distribution network for veterinary products in Japan, supported by a strong direct sales force. In June 2014, Zenoaq launched Allermmune HDM, a first-of-its-kind desensitization therapy for house dust mite-induced canine atopic dermatitis, reflecting the company's increased focus on an innovative pipeline for the companion animal market.
For further information, go to: www.zenoaq.jp/english/
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