Pharmgate LLCannounced an agreement to merge with ProtaTek International, Inc., a developer and manufacturer of vaccines for swine, whereby ProtaTek International Inc. will become a wholly owned subsidiary.
ProtaTek currently manufactures and supplies a range of vaccines through a distributor network internationally and has technology platforms supporting a range of novel products for which approval is expected in the short term. This acquisition will permit Pharmgate to diversify its business in the USA, Canada and Latin America. The acquisition is expected to be completed in the fourth quarter of 2016.
Pharmgate will acquire the current operations in St Paul, Minnesota and Mesa, Arizona which include leased office buildings, a manufacturing facility, and development and diagnostic laboratories as well as the entire manufacturing, research, finance and customer service workforce.
“In anticipation of further consumer driven changes in medication practices of farm animals we have seen the need to diversify our product offering, and biologicals are an obvious choice,” said Colin Gray, Pharmgate's president, said in a press release. ”Our parent company made an initial investment into a vaccines company in China in 2014. We are delighted to now complement this with an acquisition in the USA which contributes not only existing sales but also a series of novel, late stage products as well as R&D capabilities to expand the product range further. We expect a high degree of sales synergy within our North American business and significant advances in China and international markets.”
In 2015, Pharmgate relocated its headquarters from Ramsey, New Jersey, to Wilmington, North Carolina.
Pharmgate LLC is the majority-owned US subsidiary of Jinhe Biotechnology Co., Ltd., P. R. China, which produces chlortetracycline, chlortetracycline hydrochloride, salinomycin and other animal health compounds.