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Zoetis has $85 Million Deal to Buy Irish Animal Treatments Firm

Friday, April 14, 2017   (0 Comments)
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KALAMAZOO, MI -- Zoetis Inc. will spend about $85 million to acquire an Irish company that specializes in pain management treatments for dogs, cats and other domesticated animals.

Working through a wholly owned subsidiary, the animal health company announced an agreement Thursday to purchase Nexvet Biopharma, an innovator in the use of monoclonal antibody treatments for companion animals.

Antibodies are the protein molecules produced in animals' immune systems. They attack such things as bacteria and viruses.

Monoclonal antibodies are antibodies produced in a laboratory from a single clone of cells or cell line. According to the National Cancer Institute, they are made to bind to only one substance and are being used to treat some types of cancer.

"This acquisition is a strategic fit that brings to Zoetis an R&D (research and development) organization that shares our commitment to industry-leading innovation," Dr. Alejandro Bernal said in a press release. Bernal is executive vice president and group president in Strategy, Commercial and Business Development at Zoetis.

"It will strengthen our R&D pipeline in monoclonal antibodies and help sustain our category leadership in chronic pain management for companion animals, which is an area poised for innovation with new mAb (monoclonal antibody) therapies," he said.

Animal health company Zoetis has solid quarterly and year-end results
Animal health company Zoetis has solid quarterly and year-end results
The maker of vaccines and medicines for pets and livestock beat a 39 cents per share earnings estimate by Zacks Investment Research.
Zoetis is a longtime leader in the treatment of osteoarthritis pain and inflammation in dogs. Nexvet has a treatment platform designed to create monoclonal antibodies that an animal's immune system will not reject.

Its development pipeline includes a product to be injected monthly in dogs that is intended to treat chronic pain associated with osteoarthritis. If approved for marketing, it would be the first of its kind in the companion animal industry, according to Zoetis.

 

Members of the Nexvet Board of Directors have unanimously approved the acquisition. The acquisition is subject to approval by Nexvet's shareholders and the Irish High Court and other

conditions, and is not expected to be completed until the second half of 2017.

Nexvet is a biopharmaceutical company founded in 2010. Headquartered in Tellamore, Ireland, it has been working to grow to become one that does drug discovery work in Australia, clinical development in the United States and Europe, and manufacturing in Ireland.

About Zoetis

Zoetis discovers, develops, manufactures and markets veterinary vaccines and medicines, diagnostic products, genetic tests, biodevices and other services for use by veterinarians, livestock producers and people who raise or care for farm and companion animals.

Its products are sold in more than 100 countries and the company reported more at $4.9 billion in revenue in 2016. It has approximately 9,000 employees worldwide, including about 1,000 in Kalamazoo County.

It has research and development laboratories and offices at 300 Portage St. in downtown Kalamazoo and a 2,100-acre animal farm on Gull Road in Richland Township. A portion of Pfizer Inc.'s manufacturing site in Portage is dedicated to producing vaccines and other products for Zoetis.

Its shares are traded on the New York Stock Exchange under the ticker symbol ZTS.


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