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Zoetis to Acquire Fish-Vaccine Maker Pharmaq for $765 Million

Zoetis Inc. agreed to acquire Pharmaq for $765 million from a fund managed by private equity firm Permira, a deal that would expand the animal health products maker’s portfolio into the market for fish and aquaculture.

The acquisition will be neutral to adjusted 2016 earnings and start adding to profit thereafter, the $22 billion maker of drugs for pets and livestock said in a statement. While it won’t take out new debt for the acquisition, Zoetis will use a credit facility to help finance the purchase.

Buying closely held...