UPDATE 1-Zoetis granted conditional license by USDA for PEDv vaccine

Wed Sep 3, 2014 12:26pm EDT
 
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* USDA says preliminary studies on vaccine look promising

* Zoetis explores international markets for product

* Stock price hits record high (Adds USDA comment, stock price)

By P.J. Huffstutter and Tom Polansek

CHICAGO, Sept 3 (Reuters) - Zoetis Inc has received a conditional license from the U.S. Department of Agriculture for its vaccine against a deadly piglet virus and will begin selling it this month in the United States, the company said on Wednesday.

Shares of Zoetis, the world's largest animal-health company, reached an all-time high of $36.65 and were up 0.7 percent at $35.73 in afternoon trading on the New York Stock Exchange.

With its new vaccine, Zoetis joins a growing push by both the agriculture and pharmaceutical industries to combat the spread of porcine epidemic diarrhea virus (PEDv), which has killed about 13 percent of the U.S. hog herd over the past year.

Results from preliminary studies on the product have been "promising," said Joelle Hayden, spokeswoman for USDA's Animal and Plant Health Inspection Service.

"They've shown sufficient data that we think the vaccine will be effective," she said about Zoetis.   Continued...