Zoetis to Acquire Jurox, a Leading Provider and Manufacturer of Livestock and Companion Animal Products

Rhea-AI Summary

Zoetis (NYSE: ZTS) announced an agreement to acquire Jurox, an animal health company known for its veterinary medicines for companion animals and livestock. This acquisition will enhance Zoetis' global expansion efforts, particularly in Australia, its fifth-largest market with $207 million in revenue in 2020. Jurox brings a valuable product portfolio, including Alfaxan®, and over 150 products aimed at animal health. The transaction, awaiting regulatory approval, is expected to close in the first half of 2022.

Positive

• Acquisition of Jurox enhances Zoetis' product portfolio and market reach.
• Jurox's Alfaxan® is a leading anesthetic, adding significant value.
• The deal strengthens Zoetis' position in Australia, a key growth market.

Negative

• None.

Zoetis Inc. (NYSE: ZTS) today announced it has entered into an agreement to acquire Jurox, a privately held animal health company, which develops, manufactures and markets a wide range of veterinary medicines for treating companion animals and livestock. Jurox’s operations are based in Australia, with additional regional offices and subsidiaries in New Zealand, U.S., Canada and the UK. Financial terms of the transaction are not being disclosed.

Once completed, the acquisition of Jurox will bring 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 manufacturing operations in Australia, a critical region for growth. Australia is Zoetis’ fifth largest market, based on $207 million in revenue in 2020.

“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,” said Zoetis CEO Kristin Peck. “We continue to look for investment opportunities where we can combine a terrific business with the strengths of Zoetis and enhance the combined value to our business and customers. With Zoetis’ global sales and regulatory expertise in more than 45 direct markets, we look forward to expanding the impact and reach of the entire Jurox portfolio.” Jurox manufactures and commercializes more than 150 products, including parasiticides, anti-infectives, anaesthesia, cardiology and reproduction for animals.

“Jurox and Zoetis share similar beliefs about the important role animal health plays in the world, as well as the high standards we must keep to bring meaningful solutions to our customers,” said Jurox CEO John O’Brien. “We look forward to the future that Jurox and Zoetis can build together in Australia and around the world.”

“Beginning as a small Australian family business, we have been able to grow and become a trusted partner to our customers, based on our dedicated people and high-quality products,” said Jurox CFO Gwen O’Brien. “We have come to know Zoetis over the years as a business partner, and this agreement marks an exciting, new chapter in our history, bringing global scale and capabilities to our operations and team.”

“We are grateful to the O’Brien family for entrusting the future of their business to Zoetis,” said Lance Williams, Senior Vice President, Australia and New Zealand, for Zoetis. “We both appreciate the important role animal health plays for nurturing the world, as well as the performance and passion that comes from colleagues with an entrepreneurial spirit and mindset.”

The transaction is subject to customary closing conditions and the satisfaction of regulatory requirements. Zoetis expects to complete the acquisition in the first half of 2022. Upon closing, Jurox is expected to continue operations in its Rutherford, Australia, headquarters and manufacturing location.

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 nearly 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. In 2020, Zoetis generated revenue of $6.7 billion with approximately 11,300 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 in Australia, the US and more than 20 other countries around the world. For more information, visit www.jurox.com.au

Forward-Looking Statements

This press release contains forward-looking statements, which reflect the current views of Zoetis with respect to: business plans or prospects, future operating or financial performance, future guidance, future operating models, expectations regarding products, expectations regarding the performance of acquired companies and our ability to integrate new businesses, expectations regarding the financial impact of acquisitions, future use of cash, 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, 2020, 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. These filings and subsequent filings are available online at www.sec.gov, www.zoetis.com, or on request from Zoetis.

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FAQ

What is the significance of Zoetis acquiring Jurox?

The acquisition strengthens Zoetis' product offerings and expands its market presence, particularly in Australia.

What products does Jurox offer that will benefit Zoetis?

Jurox offers over 150 products, including Alfaxan®, a leading anesthetic for companion animals.

When is Zoetis expected to complete the acquisition of Jurox?

The acquisition is expected to close in the first half of 2022, pending regulatory approvals.

How will the acquisition affect Zoetis' operations in Australia?

The acquisition is expected to enhance Zoetis' operations by leveraging Jurox's local manufacturing and product portfolio.

What financial impact is expected from the Jurox acquisition for Zoetis?

While financial terms are not disclosed, the acquisition is positioned to support Zoetis’ market expansion and revenue growth.