Pfizer to acquire CSL animal health business

Pfizer Animal Health has agreed to acquire CSL Animal Health, a division of CSL Limited (Melbourne, Australia), for US$126.2m in cash.

The acquisition will enhance Pfizer Animal Health's presence in the Australian marketplace with CSL's line of livestock and companion animal vaccines, its professional sales force, and its advanced manufacturing facilities in Australia and New Zealand.

CSL Animal Health has also built a strong, productive research initiative in Australia. With the largest annual investment in animal health research in the industry, Pfizer expects to further develop CSL's r&d activity, which, to date, has yielded advances including a broad range of sheep vaccines and other innovative biological products.

In 2002, CSL Animal Health sales increased 6% to $46m. Through the third quarter of 2003, Pfizer Animal Health, which combined with Pharmacia Animal Health in April of this year, reported sales of US$1.09bn.

'Until now, Pfizer Animal Health has been a mid-tier participant in the important Australian market,' said Pedro Lichtinger, president, Pfizer Animal Health. 'The acquisition of CSL Animal Health transforms Pfizer into a leader in Australia. With our complementary product portfolios and organisations, we are confident that we are now well positioned to grow aggressively in both Australia and New Zealand.

'CSL's current product line augments Pfizer's extensive portfolio with innovative vaccines available in Australia.'