Quick Take
Parsippany, New Jersey-based Zoetis (ZTS) has announced an agreement to acquire development stage animal pain management company Nexvet Biopharma plc (NVET) for $6.72 per share in cash, or $85 million in total consideration.
Nexvet has developed a promising pipeline of companion animal (cats and dogs) pain treatments that are in various stages of development.
The deal is a 33% discount to Nexvet’s original IPO price and represents a smart move by Zoetis management to build out its portfolio of animal pain biologics.
