Zoetis to acquire Abbott assets
Posted Dec. 17, 2014
Zoetis Inc. announced Nov. 17, 2014, an agreement to purchase Abbott Laboratories’ animal health assets for $255 million.
Zoetis is the largest animal health company in the world, with revenues of $4.6 billion in 2013. The acquisition will strengthen Zoetis’ companion animal product portfolio and expand Zoetis’ diagnostics business.
Abbott Animal Health is a companion animal health business focused on the veterinary surgical suite. It offers products in anesthesia, fluid therapy, pain, oncology, and diabetes monitoring.
With the acquisition, Zoetis adds products such as PropoFlo, a product for general anesthesia; Simbadol, a pain reliever for cats; and AlphaTRAK, a glucose monitoring system. The acquisition also brings novel compounds for cancer treatment and pain management to the Zoetis pipeline for further development.
The transaction is expected to close in the first quarter of 2015, pending the successful completion of customary regulatory and legal reviews.