Meridian Bioscience Expands Presence in Veterinary Market and Announces Agreement with Synbiotics Corporation
CINCINNATI--(BUSINESS WIRE)--March 16, 2005--Meridian Bioscience, Inc., (NASDAQ:VIVO) today announced that its wholly owned subsidiary, Viral Antigens, Inc. (VAI), has entered into a Distribution Agreement with Synbiotics Corporation for the distribution of VAI's veterinary products through Synbiotics' global sales, marketing, and distribution channels. Synbiotics develops, manufactures, and markets veterinary diagnostic products for the animal health market and is seeking to broaden its product portfolio. Synbiotics will immediately begin marketing VAI's line of Pseudorabies Virus Antibody (PRV) test kits. VAI will continue to supply PRV test kits directly to Japan.
Pseudorabies Virus (PRV) is a contagious swine disease that causes reproductive problems, including abortion, stillbirths and death losses in breeding and finishing hogs. PRV has been one of the most costly of all swine diseases to the nation's pork producers. At its peak in the 1990's, the cost to pork producers alone was estimated to be $30 million annually represented in vaccination, testing, and animal loss costs. Over the past decade, a national control and eradication program for PRV was implemented to eliminate the presence of PRV in the swine population. Today, vaccination, testing, and good disease management practices are utilized to control the impact of PRV. PRV testing has been a significant factor in the eradication of Pseudorabies in more than 20,000 farms in the U.S. Continued surveillance testing in the U.S. and efforts to eradicate PRV outside the U.S. continue to be important initiatives in controlling PRV disease.
VAI and Synbiotics will also explore additional veterinary diagnostic product opportunities within the $700 million global animal health diagnostic market.
Richard L. Eberly, Executive Vice President and General Manager, Meridian Life Science, stated, "We are pleased to have developed a close partnership with Synbiotics and believe that our combined expertise will provide a broader portfolio of high quality products for our global animal health customers."
Paul R. Hays, Chief Executive Officer of Synbiotics Corporation, stated, "We are excited that the collaboration of the VAI and Synbiotics' teams will provide our mutual customers with new and exciting products in the future and strengthen our relationships with them. Providing innovative products that yield value to the customer is the key to success and having a company like VAI collaborate with us will make new products come to fruition faster."
Meridian is a fully integrated life science company that manufactures, markets and distributes a broad range of innovative diagnostic test kits, purified reagents and related products and offers biopharmaceutical enabling technologies. Utilizing a variety of methods, these products provide accuracy, simplicity and speed in the early diagnosis and treatment of common medical conditions, such as gastrointestinal, viral, and respiratory infections. Meridian diagnostic products are used outside of the human body and require little or no special equipment. The Company's products are designed to enhance patient well-being while reducing the total outcome costs of healthcare. Meridian has strong market positions in the areas of gastrointestinal and upper respiratory infections, serology, parasitology and fungal disease diagnosis. In addition, Meridian is a supplier of rare reagents and specialty biologicals along with proteins and other biologicals used by biopharmaceutical companies engaged in research for new drugs and vaccines. The Company markets its products to hospitals, reference laboratories, research centers, veterinary testing centers, physician offices and diagnostics manufacturers in more than 60 countries around the world. The Company's shares are traded through Nasdaq's National Market, symbol VIVO. Meridian's website address is www.meridianbioscience.com.
CONTACT: Meridian Bioscience, Inc.
John A. Kraeutler, 513-271-3700
SOURCE: Meridian Bioscience, Inc.