<SEC-DOCUMENT>0001571049-14-001121.txt : 20140410
<SEC-HEADER>0001571049-14-001121.hdr.sgml : 20140410
<ACCEPTANCE-DATETIME>20140410165801
ACCESSION NUMBER:		0001571049-14-001121
CONFORMED SUBMISSION TYPE:	FWP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20140410
DATE AS OF CHANGE:		20140410

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PHIBRO ANIMAL HEALTH CORP
		CENTRAL INDEX KEY:			0001069899
		STANDARD INDUSTRIAL CLASSIFICATION:	GRAIN MILL PRODUCTS [2040]
		IRS NUMBER:				131840497
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		FWP
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	333-194467
		FILM NUMBER:		14757716

	BUSINESS ADDRESS:	
		STREET 1:		GLENPOINTE CENTRE EAST, 3RD FLOOR
		STREET 2:		300 FRANK W. BURR BLVD., SUITE 21
		CITY:			TEANECK
		STATE:			NJ
		ZIP:			07666
		BUSINESS PHONE:		201-329-7300

	MAIL ADDRESS:	
		STREET 1:		GLENPOINTE CENTRE EAST, 3RD FLOOR
		STREET 2:		300 FRANK W. BURR BLVD., SUITE 21
		CITY:			TEANECK
		STATE:			NJ
		ZIP:			07666

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PHILIPP BROTHERS CHEMICALS INC
		DATE OF NAME CHANGE:	19980908

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PHIBRO ANIMAL HEALTH CORP
		CENTRAL INDEX KEY:			0001069899
		STANDARD INDUSTRIAL CLASSIFICATION:	GRAIN MILL PRODUCTS [2040]
		IRS NUMBER:				131840497
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		FWP

	BUSINESS ADDRESS:	
		STREET 1:		GLENPOINTE CENTRE EAST, 3RD FLOOR
		STREET 2:		300 FRANK W. BURR BLVD., SUITE 21
		CITY:			TEANECK
		STATE:			NJ
		ZIP:			07666
		BUSINESS PHONE:		201-329-7300

	MAIL ADDRESS:	
		STREET 1:		GLENPOINTE CENTRE EAST, 3RD FLOOR
		STREET 2:		300 FRANK W. BURR BLVD., SUITE 21
		CITY:			TEANECK
		STATE:			NJ
		ZIP:			07666

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PHILIPP BROTHERS CHEMICALS INC
		DATE OF NAME CHANGE:	19980908
</SEC-HEADER>
<DOCUMENT>
<TYPE>FWP
<SEQUENCE>1
<FILENAME>t1400648-fwp.htm
<DESCRIPTION>FREE WRITING PROSPECTUS
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Filed Pursuant to Rule 433</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Issuer Free Writing Prospectus Dated April
10, 2014</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Relating to Preliminary Prospectus Dated March
31, 2014 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Registration No. 333-194467</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; color: Red"><IMG SRC="image_001.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Phibro
Animal Health Corporation</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">This free writing prospectus relates to the initial public offering
of shares of Class A common stock of Phibro Animal Health Corporation and should be read together with the preliminary prospectus
dated March 31, 2014 (the &ldquo;Preliminary Prospectus&rdquo;) that was included in Amendment No. 3 to the Registration Statement
on Form S-1 relating to this offering of our Class A common stock. This free writing prospectus amends the risk factor reproduced
below by adding third paragraph:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>We have manufacturing facilities located in Brazil and a portion
of our sales and earnings is attributable to products produced and operations conducted in Brazil. </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Our Brazilian manufacturing facilities and local operations accounted
for 19% and 17% of our consolidated assets, as of June 30, 2013 and December 31, 2013, respectively, and 23% and 23% of our consolidated
net sales for the year ended June 30, 2013 and the six months ended December 31, 2013, respectively. We maintain manufacturing
facilities in Brazil, which manufacture virginiamycin, semduramicin and nicarbazin. Our Brazilian facilities also produce Stafac&reg;,
Aviax&reg;, Aviax Plus&trade;, Coxistac&trade;, Nicarb&reg; and Terramycin&reg; granular formulations. A substantial portion of
the production is exported from Brazil to major world markets. Accordingly, our Brazilian operations are dependent on foreign markets
and the ability to reach those markets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Our business, financial condition and results of operations in Brazil
may be adversely affected by factors outside of our control, such as currency fluctuations, energy shortages and other political,
social and economic developments in or affecting Brazil.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">For example, the Brazilian government has recently adopted legislation
that would effectively impose a social tax on our operations in Brazil by eliminating a lower tax rate that we benefited from as
of January 1, 2013. We believe that we are well positioned to challenge the constitutionality of the legislation eliminating the
applicability of the lower tax rate. If our challenge is not successful, the amount of additional social tax for the period from
the January 1, 2013 effective date through March 31, 2014 would be approximately $1.3 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Phibro
Animal Health Corporation has filed a registration statement (including a prospectus) with the Securities and Exchange Commission
(the &ldquo;SEC&rdquo;) for the offering to which this communication relates. Before you invest, you should read the prospectus
in that registration statement and other documents that Phibro Animal Health Corporation has filed with the SEC for more complete
information about Phibro Animal Health Corporation and this offering. You may obtain these documents for free by visiting EDGAR
on the SEC website at www.sec.gov. Alternatively, </B></FONT><B>copies of the prospectus may be obtained from: BofA Merrill Lynch,
Attention: Prospectus Department, 222 Broadway, New York, New York 10038, or by email: dg.prospectus_requests@baml.com, Morgan
Stanley, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014, and Barclays, (c/o Broadridge
Financial Solutions) 1155 Long Island Avenue, Edgewood, New York 11717, via telephone: +1 (888).603-5847 or by email: Barclaysprospectus@broadridge.com.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>



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`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
