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Moody's says Zoetis' acquisition of Abaxis is credit negative

Moody's Investors Service commented that Zoetis Inc.'s (Zoetis, Baa1 stable) plans to acquire Abaxis, Inc. (unrated), for $2 billion is credit negative. The acquisition affords Zoetis access to a fast growing area within animal health but will result in an increase in financial leverage. There i...

Zoetis engages in the discovery, development, manufacture and commercialization of animal health medicines and vaccines, with a focus on both livestock and companion animals. The company organizes and operates its business in two segments: the U.S. and International. The company's main product categories are anti-infectives, vaccines, parasiticides, medicated feed additives, and other pharmaceutical products such as allergy and dermatology, pain and sedation, antiemetic, reproductive, and oncology products. The company's other product categories include nutritionals and agribusiness, as well as products and services in complementary areas, including biodevices, diagnostics and genetics.

Moody's Investors Service
Moody's Investors Service

Moody's Investors Service is a leading provider of credit ratings, research, and risk analysis. Moody's commitment and expertise contributes to transparent and integrated financial markets, protecting the integrity of credit. Our ratings and analysis track debt covering more than:

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