August 26, 2008

Norwegian pharmaceuticals developer Biotec Pharmacon ASA announced  Monday (25 August) that it has agreed to sell subsidiary, Immunocorp Animal Health AS, to the Brazilian company Biorigin for NOK37.5 million (EUR 4.7 million).

Immunocorp Animal Health sells non-pharmacological animal and fish feed ingredients for stimulating the immune system. The company has seven employees and reported sales of NOK14.1 million (EUR 1.78 million) in the first half of 2008.

Biotec Pharmacon, headquartered in Tromso, Norway, develops, manufactures and markets immune modulating compounds. The company has 56 employees in Norway and the US.

Biorigin has been in the market for more than 10 years and is present in more than 30 countries. It now produces yeast-based solutions and their byproducts for foods and animal nutrition. Biorigin is a Brazilian company with three industrial plants in the state of Sao Paulo, Brazil.