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Big pharma, Abbott, signs a joint venture with Fonterra

Posted on 14 July 2014

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New Zealand’s Fonterra and Abbott, the US big pharma and health care giant are to develop a dairy farm hub in China.

The deal, subject to regulatory approval will see the two companies form a joint venture to invest a combined €220m ($300m).

The hub will contain up to five dairy farms and more than 16,000 cows, which will produce up to 160m litres of milk annually.

The herd will be made up with animals either imported, or sourced from Fonterra’s existing farm hubs.

The first farm is expected to be completed and producing milk in the first half of 2017 and the remaining farms will commence production in 2018.

All dairy cows will have genetics traceable to New Zealand, Australia, USA or Europe.

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