{"id":2860,"date":"2018-05-16T06:38:49","date_gmt":"2018-05-16T13:38:49","guid":{"rendered":"http:\/\/todaysveterinarybusiness.com\/?p=2858"},"modified":"2022-03-09T21:22:36","modified_gmt":"2022-03-09T21:22:36","slug":"zoetis-buy-abaxis-1-9-billion","status":"publish","type":"post","link":"https:\/\/navc.sitepreview.app\/todaysveterinarybusiness.com\/zoetis-buy-abaxis-1-9-billion\/","title":{"rendered":"Zoetis to buy Abaxis for $1.9 billion"},"content":{"rendered":"

Veterinary drug giant Zoetis Inc. has agreed to acquire diagnostic equipment maker Abaxis Inc. for $1.9 billion, the companies announced May 16.<\/p>\n

\u201cTogether we can bring more veterinarian customers a broader range of products that fit into our comprehensive solutions and innovations, from prediction and early detection of disease in animals to prevention and treatment,\u201d said Juan Ram\u00f3n Alaix, Zoetis\u2019s CEO.<\/p>\n

The deal is expected to close by year\u2019s end.<\/p>\n

Abaxis reported 2017 revenue of $227.2 million, much of it from the sale of chemistry analyzers and reagent discs. The Union City, California, company\u2019s VetScan hematology diagnostic products can be found in Banfield Pet Hospital\u2019s 1,000 locations.<\/p>\n

\u201cZoetis<\/a> has the global presence and direct veterinary customer relationships to deliver greater value to more customers around the world and accelerate the growth of our international operations,\u201d said Abaxis\u2019 chairman and CEO, Clint Severson.<\/p>\n

A small part of Abaxis\u2019 business, or 16 percent, comes from the sale of Piccolo analyzers and tests in human medicine. What Zoetis intends to do with Piccolo was not reported.<\/p>\n

Zoetis, which achieved record 2017 revenues of $5.3 billion<\/a> \u2014 about 23 times Abaxis\u2019 performance \u2014 is looking to capitalize on the thriving veterinary diagnostics market.<\/p>\n

\u201cZoetis expects the diagnostics category to continue to grow faster than the animal health industry, with growth in the mid to high single digits, driven by international adoption of point-of-care diagnostic instruments due to rising medicalization rates, increasing standard of veterinary care and the convenience of in-clinic testing,\u201d the company reported.<\/p>\n","protected":false},"excerpt":{"rendered":"

The takeover gives the drug maker a larger foothold in the veterinary diagnostics arena.<\/p>\n","protected":false},"author":45,"featured_media":2959,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"iawp_total_views":0,"footnotes":""},"categories":[90],"tags":[],"class_list":["post-2860","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-online","column-news","clinical_topics-news"],"acf":{"hide_sidebar":false,"hide_sidebar_ad":false,"hide_all_ads":false},"yoast_head":"\nZoetis to buy Abaxis for $1.9 billion | Today's Veterinary Business<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Zoetis to buy Abaxis for $1.9 billion\" \/>\n<meta property=\"og:description\" content=\"The takeover gives the drug maker a larger foothold in the veterinary diagnostics arena.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/navc.sitepreview.app\/todaysveterinarybusiness.com\/zoetis-buy-abaxis-1-9-billion\/\" \/>\n<meta property=\"og:site_name\" content=\"Today's Veterinary Business\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/todaysveterinarybusiness\" \/>\n<meta property=\"article:published_time\" content=\"2018-05-16T13:38:49+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-03-09T21:22:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/navc.sitepreview.app\/todaysveterinarybusiness.com\/wp-content\/uploads\/sites\/2\/2018\/05\/Zoetis-Abaxis-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"650\" \/>\n\t<meta property=\"og:image:height\" content=\"437\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Louise S. 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