Whiff of success for Anatara as giant Zoetis takes diarrhoea treatment global
The world’s biggest animal health company Zoetis has decided to take an Australian horse diarrhoea treatment global.
Shareholders didn’t pooh-pooh the news, sending the stock up 19 per cent to $1.72. The shares cooled to $1.60 by 12.30pm AEST.
Zoetis — which is listed on the New York Stock Exchange at a value of $US40 billion — has signed an exclusive licence with Anatara Lifesciences (ASX:ANR) for its non-antibiotic diarrhoeal treatment for livestock and horses.
Zoetis will develop, make, and market the treatment worldwide.
The deal involved an unspecified upfront payment, milestone payments, and royalties based on sales.
“Veterinarians and livestock farmers are seeking new, integrated solutions to help keep animals healthy,” said Dr Scott Brown, head of innovation at Zoetis.
“We look forward to continuing our research and development of this novel approach and intend to explore its place in our diverse portfolio of solutions to prevent and treat gastrointestinal illness in livestock animals and horses.”