The international corporate Pfizer Animal Health has bought the Dunedin-founded animal genetics company Catapult Genetics.
Pfizer said in a statement that it would be business as usual for the seven Dunedin-based staff, and the acquisition gave it access to livestock gene-marker research and development.
Catapult was a commercial company spun out of Ovita in July 2006, a research and development company formed by AgResearch, Meat and Wool New Zealand and Wool Equities.
It was owned 74.9% by Meat and Wool New Zealand and 25.1% by AgResearch at the time.
Last year it merged with Australian cattle genetics company, Genetic Solutions Australia.
Catapult has been at the forefront of developing genetic markers in sheep and has commercialised genes that identify muscling traits, parasite susceptibility, fertility and an eye disorder.
The Australian arm of the merger provided a range of genetic markers for cattle.
Catapult Genetics chief executive Gerard Davis said Pfizer's added resources and capabilities would enhance the range of genetic tools available to farmers.
‘‘For sheep and cattle producers in Australia and New Zealand there will be benefits from a continued focus on their needs as well as access to new and improved products.''
Pfizer would continue to draw on research from New Zealand and Australia as well as introduce new products and services.
The shareholders in Catapult Genetics are chief executive Gerard Davis, Jay Hetzel, AgResearch, CSIRO, Kestrel Capital's Nanyang Innovation Fund and Meat and Wool New Zealand.
The deal will be finalised by the end of March, but details have not been disclosed.
