Animal health giant Zoetis is set to purchase Abaxis Inc. for $1.9 billion, according to a report Wednesday from Reuters.
Zoetis. makes a range of vaccines and dewormers, as well as corticosteroids, sedatives, and other medications for horses. Reuters reports the veterinary diagnostics market is projected to grow to $3.62 in value by 2022.
Among other advantages, the acquisition will allow Zoetis to reduce its reliance on large animal dermatology, which the report says is facing increased competition.
Read more at Reuters
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