Zoetis Inc. sells its medicated feed additive portfolio to Phibro Animal Health Corp for $350m.

Zoetis Inc. sells its medicated feed additive portfolio, certain water-soluble products, and related assets to Phibro Animal Health Corp for $350m, expected to close in H2 2024. Portfolio, generating $400m in 2023, includes 37 product lines and 6 manufacturing sites. Zoetis to shift focus on other solutions, while the deal is anticipated to boost Phibro's profitability and EBITDA margin, funded mostly by debt.