Zoetis slips on deal to buy Neogen's animal genomics unit for $160 million

Shares of animal healthcare firm Zoetis ZTS.N down 1.5% at $129.26

ZTS says it has entered into an agreement to buy Neogen Corporation's NEOG.O animal genomics business for $160 million

The deal will allow Zoetis to use Neogen’s genetic testing technologies and data tools to improve how it predicts animal health outcomes and tailors care for individual animals

Neogen’s genomics business serves customers in more than 120 countries through its five laboratories in the U.S., Brazil, Australia, China and the United Kingdom, as well as an office location in Canada - ZTS

*Leerink Partners says "although not a needle-mover, we think it makes strategic sense, modestly bolstering the company's livestock focus and its genomics business"

Zoetis expects to complete the acquisition in H2 of calendar year 2026

Including session's moves, Zoetis up 2.6% YTD