Zoetis acquires Abaxis for $2bn

Parsippany (NJ)-based group Zoetis has announced today that it has acquired California-based Abaxis for $2bn, that is $83 per share, strengthening its position in veterinary diagnostics–a business which is growing with a 10% CAGR (2015-2018). Abaxis, which has 580 employees worldwide, sold $244.7m in 2017 (+8% vs 2016), with its diagnostics division contributing 83% of sales ($201.9m).

(Source: Zoetis)