Eco Animal Health Group has announced the €1.3 million (£1.1 million) sale of its equine parasite treatments brand, ECOmectin® Horsepaste as it focuses on treatments for pigs and poultry.
Chief executive David Hallas commented.“This enables us to increase investment in our research and development pipeline”.
Eco’s long-term Italian manufacturing partner ACME Drugs acquired the equine brand, which has marketing authorisations in the UK and EU.
An initial €500,000 was paid as the deal was signed, with two further payments of €400,000 due in the coming years.
“The brand and the broader business is a good fit for ACME and we are pleased that the business will be taken forward by a committed owner,” Hallas said.
“We continue to look for value accretive opportunities both within our portfolio and outside and for opportunities to reinvest in our research and development pipeline to support future growth.”