NEWS 18 FEED & ADDITIVE MAGAZINE May 2024 Zoetis Inc. and Phibro Animal Health Corporation entered into a definitive agreement where Phibro Animal Health will acquire Zoetis’ medicated feed additive (MFA) product portfolio, certain water-soluble products and related assets for $350 million, subject to customary closing adjustments. This transaction is expected to be complete in the second half of calendar year 2024. Both Zoetis and Phibro Animal Health have a longstanding commitment to the production animal health sector. The acquired product portfolio, which generated approximately $400 million in revenue in 2023, is comprised of more than 37 product lines that are sold in approximately 80 countries. Also included in the agreement are six manufacturing sites, four in the U.S., one in Italy and one in China. More than 300 Zoetis colleagues who support manufacturing, distribution and commercial activities are expected to transition to Phibro Animal Health. This transaction demonstrates Zoetis’s disciplined capital allocation strategy to focus its investments on solutions for animal health, productivity and sustainability. With this divestiture, Zoetis plans to be able to focus its livestock investments in other solutions, including vaccine, biologic and genetic programs. Read more>> Zoetis to sell MFA portfolio to Phibro Animal Health Kemin celebrates 20 years of its probiotic product CLOSTAT Kemin Industries, one of the global ingredient manufacturers that strive to sustainably transform the quality of life every day, and has been for 80 percent of the world with its products and services, celebrates two decades of CLOSTAT™, its flagship probiotic product for managing intestinal health in poultry and livestock. To commemorate the milestone, the Kemin Animal Nutrition and Health – Asia Pacific business unit hosted an anniversary dinner on Tuesday, April 16, in Manila, Philippines. The event coincided with the 8th International Conference on Poultry Intestinal Health (ICPIH), also held in the country's capital city, on April 17–19. "We are extremely proud of the impact of CLOSTAT over the past 20 years," said Dr. Chris Nelson, President and CEO, Kemin Industries. "Our flagship probiotic-support ingredient is a testament to Kemin's commitment to innovation and quality and our vision to improve the quality of life. We are pleased to celebrate this achievement with our valued customers, partners, and friends at ICPIH, and we look forward to continuing to provide the best solutions for poultry intestinal health." Kemin states that its probiotic solution has pioneered the promotion of healthy microbiome to drive intestinal resilience, manage gut health challenges, and improve animal productivity. CLOSTAT offers a practical and comprehensive solution that supports the development of a balanced gut microbiota, enhances immune function, and reduces antibiotic use—all while safeguarding animal health, welfare, growth, and performance. Read more>>
RkJQdWJsaXNoZXIy MTUxNjkxNQ==