Alivira Animal Health, a joint venture between Shasun Pharmaceuticals and SeQuent Scientific, has grabbed a 60% stake in Turkey's Provet Veterinary Products.
The acquisition gives Alivira entry into the Middle East, North Africa and Eastern European markets as well as the Turkish veterinary market valued at $400 million, the company said. Financial terms for the deal, which is expected to close next month, were not disclosed.
"With a ready portfolio of over 100 formulations, largely in the difficult space of injectables, and a newly established state-of-the-art facility which would soon be offered for EU GMP approval, Provet provides us the right platform to aggressively expand our veterinary formulations business," Manish Gupta, SeQuent's chief executive, said in a statement.
Sequent said the facility in Turkey has the capabilities to manufacture injectables, intramammaries, oral solutions and topicals, which enhances the company's plans for expansion.
- see the release