Zoetis completes acquisition of Australian vet company
The takeover of Jurox, announced in August 2021, increases the company’s portfolio and has the potential for “greater global expansion.”
According to Zoetis’ CEO Kristin Peck, the company’s global sales and regulatory expertise in more than 45 markets will help expand “the impact and reach” of the vet company portfolio.
Jurox’s most popular formulas are anesthetics and analgesics for dogs and cats, cardiorespiratory medicines, and oral parasite control.
In addition to Australia, the company has regional offices in New Zealand, the United States, Canada, and the United Kingdom.
Concerns from authorities
The Australian Competition and Consumer Commission (ACCC) raised last February “preliminary competition concerns” about the acquisition of Jurox.
The government agency said the takeover could eliminate competition in the parasiticides and pet medicines markets. These include opioid and non-opioid sedatives, antidotes for sedatives, corticosteroids, and penicillin.
ACCC Deputy Chair Mick Keogh said the number of effective competitors in each market “may be reduced to only two or three.”
After Zoetis offered an undertaking to sell part of Jurox’s product range to veterinary pharmaceutical company Avet, authorities decided to oppose the takeover.
“The ACCC’s investigation found that there are few alternative suppliers in these markets and barriers to entry or expansion are high,” the agency said.