Ceva acquires Hertape and Inova
The move will help the new business enter Brazil's top 5 animal health companies
Ceva Santé Animale (Ceva) announced on Nov. 24 the purchase of Hertape Saude Animale Ltda. and Inova Biotecnologia Saude Animale Ltda., two leading Brazilian veterinary biopharmaceutical companies. The closing is expected by the end of 2016, subject to Brazilian Antitrust Authorities approval.
In addition to the innovative foot and mouth disease vaccine range that Inova produces in its high security (P3) complex, the three businesses share strong similarities that will potentially establish the new business in the top five of the Brazilian market.
Ceva and Hertape have well-established brands in the ruminant and companion animal segments with Hertape’s recent development of a vaccine for the prevention of leishmaniosis in dogs. This innovation provides an interesting, new tool for Ceva’s commitment to counter the expanding global threat from zoonotic diseases.
According to Ricardo Renault, CEO, Hertape, and Hugo Zanocchi, CEO, Inova, “Ceva is a great opportunity for Inova and Hertape. We discovered during negotiations that our companies share very similar values, especially a sense of entrepreneurial spirit. We are looking forward to joining Ceva and continuing the development of our site by rolling out our expertise in both Brazil and internationally.”
Marc Prikazsky, President and CEO of Ceva, said, “The acquisition of Inova and Hertape is a strategic step for Ceva. The high-quality manufacturing site of Inova and the expertise of its management will allow Ceva to enter the key global market segment of FMD. Additionally, when we combine the strength of our local positions in ruminants and companion animals, this will give us the critical mass to enter Brazil’s top five. We will invest further into Juatuba to create a global campus dedicated to ruminant vaccine development and production.”