Eagle Vet, an animal pharmaceutical company, said Friday that it signed a contract manufacturing organization (CMO) agreement with Orion, a Finnish pharmaceutical company, to supply Oriverm (ivermectin), an animal anthelmintic injection.

It took six years for Eagle Vet to select the product to be supplied and to be recognized for its quality control capabilities by EU-GMP regulations, following EU-GMP certification in 2017.

Orion is a global pharmaceutical company with more than 100 years of history, founded in 1917. With 2022 revenues of €1.34 billion ($1.47 billion), the company develops, manufactures, and markets human and veterinary pharmaceutical drugs.

Orion has six production sites in Finland and one each in France and Belgium. It operates its business in 27 countries in Europe and six countries in the Asia-Pacific region, Eagle Vet said.

The initial volume agreement between Eagle Vet and Orion is valued at €556,000 over three years and will supply the Czech Republic and Poland.

In November, the company submitted marketing authorization documents for France, Hungary, Sweden, and Norway, which are expected to be approved in the first half of 2024.

Eagle Vet plans to expand its international CMO customers in Australia, Africa, China, and Japan, along with its existing presence in these markets, while gaining momentum for new products and customers.

"Currently, Eagle Vet's animal medicine and pet food distribution business is in a leading position in its field," said an Eagle Vet official. "We will continue to grow our overseas CMO business as a new growth engine and become the best animal medicine CMO company in Asia."