USA: Ceva acquires Summit VetPharm, LLC - 26th August 2010

LENEXA, Kan.— Ceva, a global veterinary pharmaceutical group, is pleased to announce the company has entered into an agreement with Sumitomo Corporation of America, and Sumitomo Corporation, to acquire a majority share of Sumitomo’s animal health subsidiary,...

The acquisition brings Ceva into the large market of flea and tick control, with Summit VetPharm’s ectoparasiticide products and technology portfolio, which includes Vectra 3D,® Vectra for Cats & Kittens,® Vectra for Cats,® Vectra for Dogs & Puppies® and Bloodhound® Technology. Entry into the parasiticide market demonstrates Ceva’s determination to further develop its position in the United States animal health market. Ceva directly entered the U.S. market in 2005, when it acquired Biomune Company, a leading poultry biological business, and continued its expansion in 2007 with the acquisition of Butler Sales Associates, Inc., an established U.S. companion animal health business.

Ceva Chairman and CEO, Marc Prikazsky said, “Summit VetPharm is an excellent business, led by a management team that shares our own entrepreneurial business approach. Geographically,it’s a perfect fit, giving CEVA a strengthened position in the U.S. companion animal health market. Vectra® is a signature brand which has achieved impressive market share since its launch in the United States and can be developed throughout our global network to benefit companion animals worldwide.” As an investor in Ceva’s North American companion animal business, Sumitomo will continue to be involved in the growth and development of the company. Further plans of cooperation between the two companies will provide Ceva the ability to source and develop new molecules from Japan.

According to Tatsuya Suto, Corporate Officer, Deputy General Manager, Life Science Division, Sumitomo Corporation, “Sumitomo sees this relationship as an avenue to many more opportunities to grow our joint businesses in the future. Summit VetPharm was Sumitomo’s first entry into the veterinary animal health industry and we have every intention of continuing this investment path. This new partnership will give all parties the chance to capitalize on each other’s strengths, and build leading positions in market segments and countries where they currently do not have a strong presence.” Brad Butler, Chief of Operations, Ceva Animal Health, U.S., is excited about the growth within the U.S. animal health market that this acquisition will bring, “The opportunity to acquire a company like Summit VetPharm allows us to continue to increase our footprint in the U.S. marketplace. The quality of their products and people are a perfect complement to the Ceva organization.” Julia Stephanus, President and CEO of Summit VetPharm, welcomes the new relationship with Ceva, “Summit VetPharm will now join Ceva in the continuation of the Summit VetPharm mission: "Providing products and services that enhancethe veterinary client-patient relationship. Ceva provides exciting growth plans and opportunities 
 to strengthen our competitive position in the U.S. marketplace and expand the global reach for Sumitomo ."

About Ceva

Ceva is the 9th largest animal health company in the world, focusing on research, development, production and marketing of pharmaceutical products and vaccines. The company is widely recognized for its leading position with innovative poultry vaccines. It has extensive experience with livestock reproduction and anti-infectives, and maintains strong positions in behavior, cardiology and locomotion pain management in companion animals. Based in Libourne, France, Ceva has business in 110 countries around the world. In the latest LMBO completed in 2007, Ceva's management and employees acquired the majority shareholding in the company with the backing of financial partners, Euromezzanine and Natixis, which were more recently joined by the private equity company, Sagard. For more information visit www.ceva.com .

About Summit VetPharm

Founded in 2007 by veterinarians and experienced industry professionals, Summit VetPharm is an animal health company committed to protecting the health and welfare of both companion animals and companion animal veterinary practices. Headquartered in Rutherford, New Jersey, the Summit VetPharm product line includes Vectra brand products, which are available exclusively through veterinarians. For more information visit www.summitvetpharm.com .

About Sumitomo Corporation and Sumitomo Corporation of America

Sumitomo Corporation of America is a wholly owned subsidiary of Sumitomo Corporation, an integrated trading and investment enterprise engaged in multifaceted business activities, which includes selling a variety of domestic products and services, conducting import/export and trilateral business transactions, providing domestic and international business investment, and participating in numerous other profitable activities facilitated by its global network and the relationships of trust built with corporate business partners and consumers in various industrial sectors around the world. Summit VetPharm is the first animal health company established by Sumitomo Corporation in response to the growing need for greater support for, and commitment to, companion animal veterinary practices. For more information, visit www.sumitomocorp.com

INTERNATIONAL MEDIA CONTACTS

Martin Mitchell
 Director of Group Communications,Ceva Santé Animale
 + 33 6 89 38 17 58
 martin.mitchell@ceva.com

Jewelle Yamada
 Vice President, Corporate Communications,
 Sumitomo Corporation of America
 212.207.0574
 jewelle-k.yamada@sumitomocorp.com

U.S. MEDIA CONTACTS

Brad Butler
 Chief of Operations, CEVA Animal Health, Inc., U.S.
 636.386.8142
 brad.butler@ceva.com

Julia Stephanus
 Présidente et PDG, Summit VetPharm
 201.242.8407
 jstephanus@summitvetpharm.com

Back to top