Zoetis to Acquire PHARMAQ, the Global Leader in Vaccines and Innovation for Health Products in Aquaculture
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Zoetis (ZTS) Announces 3Q Beat and Raise Along with PHARMAQ Deal; Guggenheim Reiterates Buy
November 3, 2015 1:17 PM ESTGuggenheim reiterated a Buy rating and $60.00 price target on Zoetis Inc. (NYSE: ZTS) following the company's 3Q15 earnings results. ZTS reported 3Q15 EPS of $0.50, $0.10 higher than consensus, and then increased its '15 and '16 EPS guidance to $1.70-$1.74 from $1.63-$1.68 and $1.84-$1.94 from $1.81-$1.93, respectively. The release also included the announcement of a deal with PHARMAQ. Management stated that PHARMAQ... More
Zoetis (ZTS) to Acquire PHARMAQ in $765M Deal
November 2, 2015 5:02 PM ESTZoetis Inc. (NYSE: ZTS) announced an agreement to purchase PHARMAQ, the global leader in vaccines and innovation for health products in aquaculture, for a price of $765 million on a debt-free basis. Acquiring PHARMAQ strengthens Zoetis core livestock business, giving the company a market-leading presence in the fastest growing segment of the animal health industry. Zoetis is purchasing PHARMAQ from a company owned by Permira IV, a fund managed by the global investment firm Permira, which has been the majority owner of the company since 2013.
PHARMAQ is the market leader in sales of vaccines... More
