Company or individual details
- Zoetis Inc.
- Zoetis Australia Research and Manufacturing Pty Ltd158 433 053
On 15 September 2022, the ACCC announced it had accepted an undertaking (the Undertaking) given by Zoetis Inc. and its subsidiary Zoetis Australia Research and Manufacturing Pty Ltd (together, Zoetis) pursuant to s 87B of the Competition and Consumer Act 2010 (Cth) in connection with Zoetis’s proposal to acquire all issued share capital of Betrola Investments Pty Ltd and indirectly, acquire Jurox Pty Ltd (Jurox) (the Proposed Acquisition). The Undertaking relates to the following Jurox products:
- Ampiclox LC and Ampiclox DC
- Juraclox LA
- Maxalac LC and Maxalac DC
(collectively, the Divestiture Products)
The ACCC has concluded that, in the absence of the Undertaking, the Proposed Acquisition would have the effect, or be likely to have the effect, of substantially lessening competition in the markets for the supply in Australia of intramammary antibiotics for lactating cows, intramammary antibiotics for dry cows and teat sealants (the Relevant Markets).
The ACCC has approved AVet Health Pty Ltd as the purchaser.
Objective of the Undertaking
The objective of this Undertaking is to address the ACCC's competition concerns as set out in the Undertaking that would otherwise arise as a consequence of the Proposed Acquisition by divesting the Divestiture Business (comprising the Divestiture Products).
The Undertaking aims to achieve this objective by placing obligations on Zoetis:
- to ensure that the Divestiture Business is sold to an Approved Purchaser that will result in the creation or strengthening of a viable, effective, stand alone, independent and long-term competitor(s) in the Relevant Markets;
- to ensure the purchaser of the Divestiture Business has all the necessary associated assets and rights to compete effectively with Zoetis in each of the Relevant Markets;
- to maintain the economic viability, marketability, competitiveness and goodwill of the Divestiture Business prior to divestiture;
- to hold its interests in the Divestiture Business separate from its other assets and businesses pending divestiture of the Divestiture Business; and
- to provide for the effective oversight of Zoetis’ compliance with this Undertaking.