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GLOBAL - Inovet takes over products from the Austrian Alvetra & Werfft GmbH
Wednesday, October 23, 2019
Inovet® adds another range of veterinary medicines to its portfolio with the acquisition of all licenses and production rights held by Alvetra & Werfft GmbH, the veterinary division of the in Austria listed Sanochemia.
Established in 1948, Alvetra u. Werfft GmbH is an independent niche speciality veterinary medicine and animal health company in the German-speaking countries and Eastern Europe. The company is selling to approx. 2,500 vets through the own direct sales network in Austria, Germany, Czech Republic, Slovakia and Hungary and collaborates in 20+ countries with distribution partners. Alvetra u. Werfft GmbH offers specialities for cattle, swine, horses, dogs and cats. The wide product range includes analgesics, anti-inflammatory drugs, antibiotics, speciality products and supplementary feeds for a wide variety of applications. The core products include Alvegesic®, Carofertin® and Menbuton.
Inovet will manufacture the products, market them internationally under its own brand and expand them further through its own sales network in more than 120 countries. During a transition period, Sanochemia will continue the production of Alvegesic®.
Dr. Klaus Gerdes, CMO Sanochemia: “With this step, we are structuring the company tighter to focus on our core segments in human medicine. With Inovet we have found a partner who, due to their deep expertise and success in the veterinary field, is certainly in a position to market the acquired products well. This will also benefit Sanochemia.”
Dr. Jan Moons, CEO Inovet: “With this acquisition, Inovet continues to enlarge its product portfolio and reinforces its strong presence in the cattle range even more. Furthermore, we can use the experience and market knowledge of Alvetra u. Werfft GmbH in Austria and Germany. We will explore the synergy between the 2 companies to extend additional technical support to our customers.”
Financial details of the purchase are not disclosed.
Inovet will manufacture the products, market them internationally under its own brand and expand them further through its own sales network in more than 120 countries. During a transition period, Sanochemia will continue the production of Alvegesic®.
Dr. Klaus Gerdes, CMO Sanochemia: “With this step, we are structuring the company tighter to focus on our core segments in human medicine. With Inovet we have found a partner who, due to their deep expertise and success in the veterinary field, is certainly in a position to market the acquired products well. This will also benefit Sanochemia.”
Dr. Jan Moons, CEO Inovet: “With this acquisition, Inovet continues to enlarge its product portfolio and reinforces its strong presence in the cattle range even more. Furthermore, we can use the experience and market knowledge of Alvetra u. Werfft GmbH in Austria and Germany. We will explore the synergy between the 2 companies to extend additional technical support to our customers.”
Financial details of the purchase are not disclosed.