Zoetis adds to companion animal product portfolio with Abbott Animal Health acquisition
Zoetis is adding a major piece to its companion animal product portfolio as it moves forward with the acquisition of Abbott Animal Health that was announced Nov. 17.
The deal, worth a reported $255 million, is expected to finalize in the first quarter of 2015 after customary regulatory and legal reviews are conducted, Zoetis said in a company news release.
With the acquisition of Abbott's assets, Zoetis gains a wide range of products addressing anesthesia, fluid therapy, pain, oncology, diabetes monitoring, and more. Among the well-known brands included in the transaction are:
- PropoFlo, a general anesthesia product.
- Simbadol, a feline pain reliever.
- AlphaTRAK, a glucose monitoring system intended for use by pet owners.
Juan Ramon Alaix, chief executive officer for Zoetis, commented on the importance of his company's acquisition of Abbott Animal Health to pet owners.
"The addition of Abbott Animal Health assets is an excellent complement to the Zoetis companion animal business and addresses the challenges our customers face today in effectively raising and caring for animals that are living longer and receiving more intensive medical and surgical treatment," Alaix said.
Abbott Animal Health also offers a free fluid therapy calculator app for download on the iPhone, iPad, and Android devices.