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PHARMAQ Holding Acquires Havbruksinstituttet

01 June 2012

NORWAY - PHARMAQ Holding AS has entered into an agreement to purchase all shares in the Norwegian aquaculture research company Havbruksinstituttet AS.


Morten Nordstad, Managing Director in PHARMAQ Holding AS and Bjørn Guldberg, General Manager at Havbruksinstituttet AS have signed the agreement

PHARMAQ Holding is currently owner of the pharmaceutical company PHARMAQ, which develops and offers vaccines and therapeutic products to the aquaculture sector.

The purchase of Havbruksinstituttet AS will enable PHARMAQ Holding to expand its general product and services portfolio in the fields of fish health, and to incorporate services linked to the analysis and detection of fish pathogens.

Havbruksinstituttet AS was established in 2000. The organisation employs six persons and in 2011 had a turnover of NOK 15 million. The company offers analytical, consultancy and biological quality assurance services to the aquaculture sector.

It is the market leader in Norway in the field of smolt analysis and the second largest company offering real time PCR analyses to the aquaculture sector.

"Backing from a sound commercial owner such as PHARMAQ Holding will enable us to establish an even stronger platform for future growth", says Bjørn Guldberg, General Manager at Havbruksinstituttet AS.

"A closer working relationship with PHARMAQ will strengthen our position in Norway and further help us offer our services in new markets overseas," he said.

Havbruksinstituttet AS has developed a first-class laboratory in Bergen which carries out real time PCR analyses for the detection of pathogens such as viruses, bacteria and micro-parasites.

The PCR laboratory is certified by the Norwegian accreditation agency Norsk Akkreditering. The company is now focusing its core activities on the fields of analytical and laboratory-based services, consultancy and associated activities. As a result of the company's R&D efforts, five new pathogens have recently been accredited for real time PCR analysis.

"Our acquisition of Havbruksinstituttet AS strengthens our collective expertise and presence in the fish health market," said Morten Nordstad, Managing Director at PHARMAQ Holding.

"We believe that this will contribute towards offering our clients an even better range of services - sourced from the combined resources at PHARMAQ and Havbruksinstituttet AS.

"We believe that both companies will benefit from a mutual collaboration on research and development projects," said Nordstad.

"Havbruksinstituttet AS will continue as an independent company and further develop its well established client services."

PHARMAQ employs 150 personnel worldwide, and in 2011 had a turnover of NOK 447 millions.

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