SAN DIEGO -- Synbiotics Inc. said Monday that it negotiatedexclusive North American distribution rights to eight animalhealth diagnostic products from its collaborative partnerPitman-Moore Inc.
No acquisition price was announced, nor were the productsspecified.
Synbiotics (NASDAQ:SBIO) said the products serve its short-term strategy of building a business in animal health productsthrough in-licensing and co-marketing other companies'products, said Robert L. Widerkehr, Synbiotics' chief operatingofficer. This strategy is intended to expand a base of productsfrom which to launch its next generation of animal healthproducts, he said.
The company has established a national distribution systemand telemarketing network. It reported in a federal filing lastweek that sales of animal health products rose 36 percent to$7.1 million during the year ended March. 31.
Pitman-Moore of Lake Forest, Ill., a unit of Imerca Group Inc.,markets about 1,000 products for the livestock and poultrymarkets.
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