JTA NEWS
19 November 2017 - 1 Kislev 5778 - א' כסלו ה' אלפים תשע"ח
JTA NEWS :
Phibro Animal Health Corporation sets up Indian plant E-mail

The Israeli branch of veterinary company Phibro Animal Health Corporation has signed a Memorandum of Understanding (MoU) with Indian company Zydus Cadila, in which the latter company will set up a plant in India to manufacture Phibro’s products and market them in India.

Market sources close to Zydus Cadila estimate the value of the deal at US$150 million over five years. Phibro is listed on Nasdaq with a US$1.5 billion market cap.

Phibro is a global company in the field of vaccinations and drugs for animals that are used as food for humans.

Phibro Israel General Manager Jonathan Bendheim, son of the parent company’s chairman, president and CEO Jack Bendheim, said: “My grandfather founded the company. In the 1970s, my father decided to start operating in Israel and this activity is now very financially worthwhile.

Its business in Israel has now become Phibro’s global base for the development and marketing of vaccinations. “Since Israel is in the migratory path of many birds, many bird diseases come here. After we develop the drug in Israel, we find other markets for it. In birds, we’re among the leaders, and we’re also developing vaccinations for other animals. Eighteen months ago, we acquired activity in fish vaccinations in Israel. Global fish consumption is growing, because they supply the most protein, compared with the protein they consume. This acquisition didn’t cost a lot, but it gave us a rare opportunity. There’s a lot of innovation in the fish sector in Israel.”

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