PHARMAQ buys Alpharma Aquatic Business Unit
Tuesday, July 27, 2004
Oslo, Norway - PHARMAQ, a newly formed aquatic health company, announces it has purchased the Aquatic Business Unit of Alpharma, Inc. The new company, headquartered in Norway, is the only global veterinary pharmaceutical company with a primary focus on aquaculture.
Sources at PHARMAQ revealed the new company's management and employee structure consists of former employees and management of Alpharma. Strategic planners and investors will also contribute to the new company.
"The new business has a solid foundation on which to build. It includes a wealth of knowledge and experience in the aquatic pharmaceutical business and world aquaculture," stated Morten Kr. Nordstad, General Manager, PHARMAQ. "We are well positioned with premium products in all major aquaculture markets. We've identified other opportunities for growth into emerging markets as well. Additionally we plan to invest 25% of our revenue solely on research and development."
The transfer of ownership from Alpharma to PHARMAQ includes all staff, trademarks and products. Mr. Nordstad assured Alpharma customers and distributors that the transition would be seamless, and no interruption in service or product availability is anticipated.
PHARMAQ will continue to operate through the former Alpharma network of distributors and sales offices in all markets. PHARMAQ will maintain national sales operations in the United States, United Kingdom, Ireland, and Chile, added Mr. Nordstad.
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