<SEC-DOCUMENT>0001571049-16-010693.txt : 20160112
<SEC-HEADER>0001571049-16-010693.hdr.sgml : 20160112
<ACCEPTANCE-DATETIME>20160112170035
ACCESSION NUMBER:		0001571049-16-010693
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20160112
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20160112
DATE AS OF CHANGE:		20160112

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PHIBRO ANIMAL HEALTH CORP
		CENTRAL INDEX KEY:			0001069899
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				131840497
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36410
		FILM NUMBER:		161339301

	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>8-K
<SEQUENCE>1
<FILENAME>t1600087_8k.htm
<DESCRIPTION>FORM 8-K
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<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0"></P>

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<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0"><FONT STYLE="font-size: 16pt"><B>UNITED STATES</B></FONT><BR>
<FONT STYLE="font-size: 16pt"><B>SECURITIES AND EXCHANGE COMMISSION</B></FONT><BR>
<FONT STYLE="font-size: 12pt"><B>WASHINGTON, DC 20549</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 12pt"><B>CURRENT
REPORT</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 12pt"><B>PURSUANT
TO SECTION 13 OR 15(d) OF THE</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 12pt"><B>SECURITIES
EXCHANGE ACT OF 1934</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 12pt">Date
of report (Date of earliest event reported): <B>January 12, 2016 </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 18pt"><B>Phibro
Animal Health Corporation</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 12pt">(Exact
name of registrant as specified in its charter)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: center; width: 33%"><FONT STYLE="font-size: 10pt"><B>Delaware</B></FONT></TD>
    <TD STYLE="text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: center; width: 32%"><FONT STYLE="font-size: 10pt"><B>01-36410</B></FONT></TD>
    <TD STYLE="text-align: center; width: 1%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: center; width: 33%"><FONT STYLE="font-size: 10pt"><B>13-1840497</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">(State or other jurisdiction of</FONT><BR>
<FONT STYLE="font-size: 10pt">incorporation)</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">(Commission File Number)</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">(IRS Employer Identification No.)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; text-align: center; width: 40%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Glenpointe Centre East, 3rd Floor</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>300 Frank W. Burr Boulevard, Suite 21</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Teaneck, New Jersey</B></P></TD>
    <TD STYLE="vertical-align: top; font-weight: bold; text-align: center; width: 20%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-weight: bold; text-align: center; width: 40%"><FONT STYLE="font-size: 10pt"><B>07666-6712</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font-weight: normal; text-align: center; font-style: normal"><FONT STYLE="font-size: 10pt">(Address of Principal Executive Offices)</FONT></TD>
    <TD STYLE="vertical-align: top; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">(Zip Code)</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Registrant&rsquo;s telephone number, including
area code:<B> (201) 329-7300</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Not Applicable</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Former name or former address, if changed
since last report)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Check the appropriate box below if this
Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">&uml;</FONT> Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">&uml;</FONT> Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">&uml;</FONT> Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">&uml;</FONT> Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 1.01.&nbsp; Entry Into a Material Definitive Agreement.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On January 12, 2016 (the &ldquo;<B><I>Execution
Date</I></B>&rdquo;), Phibro Animal Health Corporation (&ldquo;<B><I>Phibro</I></B>&rdquo;) entered into an Asset Purchase Agreement
(the &ldquo;<B><I>Agreement</I></B>&rdquo;) among Phibro, MVP Laboratories, Inc., a Nebraska corporation (&ldquo;<B><I>MVP</I></B>&rdquo;),
Mary Lou Chapek (the &ldquo;<B><I>Principal Shareholder</I></B>&rdquo;) and AVP, LLC, a Nebraska limited liability company (&ldquo;<B><I>LLC</I></B>&rdquo;
and, collectively with MVP and the Principal Shareholder, the &ldquo;<B><I>Sellers</I></B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Sellers, through MVP, are engaged in
the registration, development, importation, manufacturing, marketing, sale and distribution to veterinary clinics and livestock
operations of vaccines, adjuvants and other products (&ldquo;<B><I>Sellers&rsquo; Business</I></B>&rdquo;). MVP is the manufacturer
of an autogenous vaccine against porcine reproductive and respiratory syndrome that Phibro exclusively distributes pursuant to
an agreement between Phibro and MJ Biologics, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pursuant to the Agreement, the Sellers have
agreed to sell, and Phibro has agreed to acquire, all of the assets used or held for use in the conduct of the Sellers&rsquo; Business
(the &ldquo;<B><I>Transaction</I></B>&rdquo;), including intellectual property, working capital, manufacturing equipment and real
property and facilities owned by MVP and LLC (the &ldquo;<B><I>Assets</I></B>&rdquo;). Pursuant to the Agreement, the Assets will
be acquired by Phibro for an aggregate purchase price of approximately $46.5 million (the &ldquo;<B><I>Purchase Price</I></B>&rdquo;)
payable at closing. The Purchase Price is subject to net working capital and certain other adjustments at and after closing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Agreement may be terminated (i) by mutual
consent; (ii)&nbsp;by the non-breaching party due to a material, unwaived breach of the Agreement by either Phibro or the Sellers;
(iii) by Phibro or the Sellers due to the failure of their respective conditions to closing to be satisfied or waived within 60
days of the Execution Date; or (iv) by Phibro or the Sellers due to the failure of the Transaction to close within 60 days of the
Execution Date, provided that a party may not terminate the Agreement if its breach prevented the consummation of the transactions
contemplated by the Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Agreement contains customary representations,
warranties and covenants by the Sellers and Phibro. A portion of the Purchase Price will be held in escrow for a limited time to
secure the indemnification obligations of the Sellers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Phibro intends to draw on its current revolving
credit facility to finance the Transaction. Subject to customary closing conditions, Phibro expects to complete the Transaction
in January, 2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This description of the Agreement is a summary
only and is qualified in its entirety by the full and complete terms of the Agreement.&nbsp; The Company expects to file the Agreement
as an exhibit to its quarterly report on Form&nbsp;10-Q for the period ending March 31, 2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>ITEM 7.01 REGULATION FD DISCLOSURE</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On January 12, 2016, Phibro issued a press
release announcing its entry into the Agreement. A copy of the press release is furnished as Exhibit 99.1 to this Current Report
on Form 8-K.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The information contained in the press release
is being furnished and shall not be deemed to be &ldquo;filed&rdquo; for purposes of Section 18 of, or otherwise regarded as filed
under, the Securities Exchange Act of 1934, as amended (the &ldquo;Exchange Act&rdquo;), nor shall it be deemed incorporated by
reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth
by specific reference in such filing.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

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

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

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    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; width: 28%"><FONT STYLE="font-size: 8pt"><B>Exhibit Number</B></FONT></TD>
    <TD STYLE="font-weight: bold; width: 2%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center; width: 70%"><FONT STYLE="font-size: 8pt"><B>Description</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">99.1</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Press Release, dated January 12, 2016</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
thereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Date: January 12, 2016</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">PHIBRO ANIMAL HEALTH CORPORATION</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 6%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 44%"><FONT STYLE="font-size: 10pt">/s/ Thomas G. Dagger</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Thomas G. Dagger</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Senior Vice President, General Counsel and Corporate Secretary</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>t1600087_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><FONT STYLE="font: 10pt Calibri, Helvetica, Sans-Serif;"><B>Exhibit 99.1</B></FONT></P>

<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="margin: 0"><B><IMG SRC="ex99_1logo.jpg" ALT="">&nbsp;</B></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0"><B>For Immediate Release</B></P>

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

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0"><B>Phibro Animal Health Corporation to Acquire Business of
MVP Laboratories, Inc., an Animal Vaccine and Adjuvant Manufacturer and Marketer</B></P>

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

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; text-align: left"><B>TEANECK, N.J., January 12, 2016 (GLOBE
NEWSWIRE)</B> &ndash; Phibro Animal Health Corporation (&ldquo;Phibro&rdquo;) (NASDAQ:PAHC) today announced an agreement to purchase
the assets of MVP Laboratories, Inc. (&ldquo;MVP&rdquo;), a privately held developer, manufacturer and marketer of livestock vaccines,
vaccine adjuvants and other products based in Omaha, Nebraska. Acquiring the MVP business strengthens Phibro&rsquo;s core animal
vaccine business and provides new opportunities in a fast-growing segment of the animal health industry. In addition to other products,
MVP manufactures the MJPRRS&reg; autogenous swine vaccine, which Phibro exclusively distributes pursuant to its agreement with
MJ Biologics, Inc.</P>

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

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; text-align: left">&ldquo;This transaction is an excellent strategic
fit that supports our growth initiatives by providing Phibro with an innovative organization and proven manufacturing capabilities,&rdquo;
said Jack Bendheim, Phibro&rsquo;s Chairman, President and Chief Executive Officer. &ldquo;By expanding the capabilities and broadening
the species reach of Phibro vaccines, we are adding a platform for growth and value creation consistent with our vision for the
future.&rdquo;</P>

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

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; text-align: left">&ldquo;Our business has great opportunities
to grow as part of Phibro,&rdquo; said Mary Lou Chapek, Chief Executive Officer of MVP. &ldquo;Phibro has proven expertise in supporting
livestock producers with high-quality products and technical support that help improve animal health, productivity and profitability.
We believe that Phibro has the resources and capabilities necessary to maximize MVP&rsquo;s strong production and development capabilities
and to fuel development of our pipeline products. The value of this transaction is a testament to the highly skilled, innovative
and hard-working people of MVP.&rdquo;</P>

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

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; text-align: left">&ldquo;A key part of our strategic plan is
to grow our vaccine business and specifically to expand Phibro&rsquo;s presence in the North American vaccine market through an
expanded product offering and the acquisition of a U.S-based vaccine manufacturing facility,&rdquo; said Larry Miller, Phibro&rsquo;s
President, Animal Health. &ldquo;MVP&rsquo;s expertise in autogenous vaccines coupled with its first-class diagnostic laboratory
will enable Phibro to produce vaccines tailored to match disease strains for specific customers. Phibro will market herd-specific
autogenous and conventional vaccines under the Phibro Animal Health brand.&rdquo;</P>

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

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; text-align: left">In addition to its vaccine business, MVP
is a global supplier of adjuvant systems for animal vaccines. MVP provides high-quality, ready-to-mix adjuvants that are free from
animal origin components, including the EMULSIGEN&reg;, CARBIGEN&trade; and POLYGEN&trade; platform systems, and also produces
custom adjuvants for vaccine producers based on specific antigen and/or delivery requirements. &ldquo;Phibro plans to support growth
of the adjuvant business by investing in development, marketing and production. The adjuvant business will continue to be marketed
under the MVP Technologies brand,&rdquo; said Miller.</P>

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

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; text-align: left">&ldquo;Phibro and MVP employees share similar
values and have a shared vision for working collaboratively with customers to help identify and provide solutions for health challenges
for their farms. We welcome MVP&rsquo;s dedicated team of 50 employees in joining Phibro,&rdquo; added Miller.</P>

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

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; text-align: left">Subject to customary closing conditions,
Phibro expects to complete the acquisition in January, 2016 and intends to draw on its existing credit facilities to finance the
transaction. Phibro expects the transaction to be accretive to adjusted EBITDA and adjusted diluted EPS.</P>

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


<!-- Field: Page; Sequence: 1 -->
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; text-align: left">Phibro will discuss the transaction on its
regularly scheduled investor conference call on Wednesday, February 10, 2016.</P>

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

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0"><B>About Phibro Animal Health Corporation</B></P>

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

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0">Phibro Animal Health Corporation is a diversified global developer,
manufacturer and marketer of a broad range of animal health and mineral nutrition products for use in the production of poultry,
swine, cattle, dairy and aquaculture. The company reported net sales of&nbsp;$749 million for the fiscal year ended June 30, 2015.
For further information, please visit www.pahc.com.</P>

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

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0"><B>Contact</B></P>

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

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0">Phibro Animal Health Corporation</P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0">Richard Johnson</P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0">Chief Financial Officer</P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0">+1-201-329-7300</P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><U>investor.relations@pahc.com</U></P>



<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><B>Forward-Looking Statements</B></P>

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

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><I>This communication contains forward-looking
statements, which reflect Phibro&rsquo;s current views with respect to business plans or prospects, the transactions described
herein, and other future events. You can identify forward-looking statements by the fact that they do not relate strictly to historical
or current facts. These statements may include words such as &ldquo;aim,&rdquo; &ldquo;anticipate,&rdquo; &ldquo;believe,&rdquo;
&ldquo;estimate,&rdquo; &ldquo;expect,&rdquo; &ldquo;forecast,&rdquo; &ldquo;outlook,&rdquo; &ldquo;potential,&rdquo; &ldquo;project,&rdquo;
&ldquo;projection,&rdquo; &ldquo;plan,&rdquo; &ldquo;intend,&rdquo; &ldquo;seek,&rdquo; &ldquo;believe,&rdquo; &ldquo;may,&rdquo;
&ldquo;could,&rdquo; &ldquo;would,&rdquo; &ldquo;will,&rdquo; &ldquo;should,&rdquo; &ldquo;can,&rdquo; &ldquo;can have,&rdquo;
&ldquo;likely,&rdquo; the negatives thereof and other words and terms of similar meaning in connection with any discussion of
the timing or nature of future operating or financial performance or other events. These statements are not guarantees of future
performance or actions. Forward-looking statements are subject to risks and uncertainties. If one or more of these risks or uncertainties
materialize, or if management&rsquo;s underlying assumptions prove to be incorrect, actual results may differ materially from
those contemplated by a forward-looking statement. Forward-looking statements speak only as of the date on which they are made.
Phibro expressly disclaims any obligation to update or revise any forward-looking statement, whether as a result of new information,
future events or otherwise. A further list and description of risks, uncertainties and other matters can be found in our Annual
Report on Form 10-K and our Quarterly Reports on Form 10-Q, including in the sections thereof captioned &ldquo;Forward-Looking
Statements&rdquo; and &ldquo;Risk Factors.&rdquo; These filings and subsequent filings are available online at <U>www.sec.gov</U>,
<U>www.pahc.com</U>, or on request from Phibro.</I></P>

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


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