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$ZTS BoD declared 1Q18 dividend of $0.126 per share of the company’s common stock, an increase of 20% from the quarterly dividend rate paid in 2017. The dividend is to be paid on Thursday, March 1, 2018, to holders of record on Friday, January 19, 2018.
$ZTS announced a plan to expand capacity at its Global Manufacturing and Supply facility in Kalamazoo, Mich. $ZTS will install two new production lines and related operations to manufacture oral tablet and chewable medicines for companion animals. $ZTS expects to add up to 45 manufacturing positions in the next 3 years.
$ZTS said the European Commission has granted the company marketing authorization for Cytopoint (lokivetmab). Cytopoint is indicated to treat the clinical signs, including itching and inflammation, associated with atopic dermatitis in dogs of any age weighing 3 kilograms or more.
$ZTS will acquire $NVET for $6.72 in cash per ordinary share, which values the entire issued and to be issued ordinary share capital of Nexvet at approx $85MM. This per share purchase price represents a 66% premium over Nexvet’s April 12, 2017 closing price. The acquisition will be completed in H2 of 2017.
$ZTS said the European Commission has granted the company a license for Stronghold Plus (selamectin/sarolaner), a topical combination of parasiticides that treats ticks, fleas, ear mites, lice and gastrointestinal nematodes and prevents heartworm disease in cats.