Valeant offers to buy Zoetis - WSJ

Thu Jun 25, 2015 4:30pm EDT
 
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June 25 (Reuters) - Canada-based drugmaker Valeant Pharmaceuticals International Inc has approached to buy Zoetis Inc, an animal-health company, the Wall Street Journal reported.

Zoetis, spun off from Pfizer Inc in 2013, was valued at $24.85 billion as of Thursday's close, according to Thomson Reuters data.

It was not clear what Zoetis's reaction to the approach was, if any, or whether it was open to a sale, the Journal reported, citing people familiar with the matter. (on.wsj.com/1fGK2qC)

Valeant spokeswoman Laurie Little declined to comment. Zoetis was not immediately available for comment. (Reporting by Rosmi Shaji in Bengaluru; Editing by Joyjeet Das)