Zoetis, the Parsippany-based animal health company, has agreed to acquire a leading maker of livestock and companion animal medicines, it announced Wednesday.
The deal would bolster Zoetis’ product range and reach though the addition of Australia-based Jurox’s veterinary medicines, the company said in a news release. Jurox is noted for its Alfaxan anaesthetic product for companion animals, among its 150-plus products, and Australia already represents Zoetis’ fifth-largest market.
“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,” Zoetis CEO Kristin Peck said in a prepared statement. “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.”
Financial terms of the transaction were not disclosed. The transaction is expected to close in the first half of 2022, subject to customary approvals and conditions. Jurox is expected to continue operating from its Australian headquarters and manufacturing site.