Zoetis to Acquire Jurox, a Leading Provider and Manufacturer of Livestock and Companion Animal Products
August 04 2021 - 8:00AM
Business Wire
- Increases Zoetis’ range of products, with potential for greater
global expansion
- Provides future growth opportunities, manufacturing capacity,
and increased capabilities in Australian animal health market
- Strengthens Zoetis’ anaesthetic portfolio for companion animals
with addition of Alfaxan®
- Continues Zoetis’ strategic use of capital to achieve long-term
growth
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.
ZTS-COR ZTS-IR
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version on businesswire.com: https://www.businesswire.com/news/home/20210804005566/en/
Media Contacts: Bill Price
1-973-443-2742 (o) william.price@zoetis.com Ben Reay +61 477 710
681 Ben.Reay@zoetis.com Investor
Contact Steve Frank 1-973-822-7141 (o)
steve.frank@zoetis.com Jurox John
O’Brien - Johno@jurox.com.au Gwen O’Brien -
Gwen.OBrien@jurox.com.au
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