Zoetis Announces the Completion of its Acquisition of Jurox, a Leading Provider of Livestock and Companion Animal Products

Rhea-AI Summary

Zoetis Inc. (NYSE: ZTS) has successfully completed the acquisition of Jurox, an Australian animal health company. This acquisition enhances Zoetis' product range, particularly with the addition of Alfaxan®, a leading anaesthetic for companion animals. The move is anticipated to provide greater global expansion opportunities and valuable insights into the Australian animal health market. Jurox's established operations, which include over 150 veterinary medicines, will contribute to Zoetis' growth in its fourth largest market based on revenue.

Positive

• Increases Zoetis’ product range and enables greater global expansion.
• Provides future growth opportunities and insights into the Australian animal health market.
• Strengthens the anaesthetic portfolio with Alfaxan®, a leading product for companion animals.

Negative

• None.

• Increases Zoetis’ range of products, with potential for greater global expansion
• Provides future growth opportunities, manufacturing capacity, and insights into Australian animal health market
• Strengthens Zoetis’ anaesthetic portfolio with addition of Alfaxan®, a leading anaesthetic for companion animals

PARSIPPANY, N.J. & RUTHERFORD, New South Wales, Australia--(BUSINESS WIRE)-- Zoetis Inc. (NYSE: ZTS) today announced it has completed the acquisition of Jurox, a privately held animal health company that develops, manufactures and markets a wide range of veterinary medicines for treating livestock and companion animals. Jurox’s operations are based in Australia, with additional regional offices in New Zealand, U.S., Canada and the UK. Financial terms of the transaction, which was announced in August 2021, are not being disclosed.

The acquisition of Jurox brings Zoetis a range of important products primed for greater global expansion; a valuable animal health portfolio, including Alfaxan^®, a leading anaesthetic product for companion animals; and high-quality local R&D and manufacturing operations in Australia, Zoetis’ fourth largest market based on revenue in 2021.

“We are grateful to the O’Brien family for entrusting the future of this family-owned business to Zoetis,” said Zoetis CEO Kristin Peck. “Jurox’s portfolio plays to the strengths of our core business and will be a complementary fit with the solutions we deliver to veterinary professionals, livestock producers and pet owners around the world,” said Peck. “With Zoetis’ global sales and regulatory expertise in more than 45 markets, we look forward to expanding the impact and reach of the entire Jurox portfolio.” Jurox develops and manufactures more than 150 products in areas such as parasiticides, anti-infectives, anaesthesia, cardiology and reproduction for animals.

About Zoetis
As the world’s leading animal health company, Zoetis is driven by a singular purpose: to nurture our world and humankind by advancing care for animals. After 70 years innovating ways to predict, prevent, detect, and treat animal illness, Zoetis continues to stand by those raising and caring for animals worldwide – from livestock farmers to veterinarians and pet owners. The company’s leading portfolio and pipeline of medicines, vaccines, diagnostics and technologies make a difference in over 100 countries. A Fortune 500 company, Zoetis generated revenue of $7.8 billion in 2021 with approximately 12,100 employees. For more information, visit www.zoetis.com.

About Jurox
Founded in 1992, Jurox formulates, manufactures and distributes companion and commercial animal health products from its CGMP-compliant facility located in the Hunter Valley region, New South Wales, Australia. Jurox products, including a leading anaesthetic product Alfaxan, are currently distributed Australia, the US and more than 20 other countries around the world. For more information, visit www.jurox.com.au.

Forward-Looking Information
This press release contains forward-looking statements, which reflect the current views of Zoetis with respect to: expectations regarding the performance of acquired companies and our ability to integrate new businesses; expectations regarding the financial impact of acquisitions; business plans or prospects, future operating or financial performance, future guidance, future operating models; R&D costs, timing and likelihood of success; expectations regarding products, product approvals or products under development; expected timing of product launches; the impact of the coronavirus (COVID-19) global pandemic and any recovery therefrom on our business, supply chain, customers and employees; future use of cash, dividend payments and share repurchases; tax rate and tax regimes and any changes thereto; and other future 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'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. Zoetis 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 for the fiscal year ended December 31, 2021, including in the sections thereof captioned “Forward-Looking Statements and Factors That May Affect Future Results” and “Item 1A. Risk Factors,” in our Quarterly Reports on Form 10-Q and in our Current Reports on Form 8-K. Such risks and uncertainties may be amplified by the COVID-19 global pandemic and its potential impact on the global economy and our business. These filings and subsequent filings are available online at www.sec.gov, www.zoetis.com or on request from Zoetis.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20220929005878/en/

Media:

Bill Price

1-973-443-2742 (o)

William.price@zoetis.com

Ben Reay

+61 477 710 681

Ben.Reay@zoetis.com

Investors (if applicable):

Steve Frank

1-973-822-7141 (o)

Steve.frank@zoetis.com

Source: Zoetis Inc.

FAQ

What are the details of Zoetis' acquisition of Jurox?

Zoetis Inc. has acquired Jurox, enhancing its product range and providing insights into the Australian market.

How does the acquisition of Jurox impact Zoetis' stock (ZTS)?

The acquisition is expected to positively impact Zoetis' stock (ZTS) by expanding its product offerings and market reach.

What strategic advantages does Zoetis gain from acquiring Jurox?

Zoetis gains access to a wider product portfolio and insights into the Australian veterinary market, enhancing its global presence.

When was the acquisition of Jurox by Zoetis announced?

The acquisition was announced in August 2021 and has now been completed.

What is Alfaxan® and its significance for Zoetis after the acquisition?

Alfaxan® is a leading anaesthetic for companion animals, strengthening Zoetis' anaesthetic portfolio.