Zoetis completes takeover of Nexvet Biopharma

Zoetis has announced the completion of its acquisition of the biologic therapeutics company Nexvet Biopharma for $85 million (65.8 million pounds).

Nexvet is a biologic therapeutics company that is developing a pipeline of monoclonal antibody therapies for companion animals in pain and other therapeutic areas, with Zoetis agreeing a deal to purchase the firm in April.

Following the completion of the takeover, Nexvet's research programmes for the treatment of osteoarthritis pain in dogs and cats will be integrated into Zoetis' global research and development operation.

It is expected that this will considerably strengthen Zoetis' clinical pipeline in an area of key strategic priority for the company.

Dr Alejandro Bernal, executive vice-president and group president for strategy, commercial and business development at Zoetis, said: "The acquisition demonstrates our determination to lead the animal health industry in the development and commercialisation of monoclonal antibody therapies in areas of high medical need."

Therapies to treat chronic pain in companion animals represent a global market valued at an estimated $400 million a year. Zoetis has been a leader in this sector for two decades.

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