IDEXX Laboratories Inc. (IDXX) announced that it has agreed with MWI Veterinary Supply Inc. (MWIV) on the terms of a revised distribution relationship under which MWI will continue to sell IDEXX products to veterinary customers in the U.S., and in the future also will be able to sell products that compete with IDEXX's products.
As per the new arrangement, which is expected to become effective January 1, 2013, IDEXX will reduce the discount from list price at which it sells its products to MWI.
In April 2012, IDEXX announced its intention to move one of its three largest U.S. distributors of companion animal diagnostic products to non-exclusive status, which IDEXX believed would address concerns expressed to IDEXX by the FTC staff regarding IDEXX's relationships with these three distributors.
IDEXX said that the company and MWI will negotiate a definitive agreement reflecting the new terms of the relationship. IDEXX noted that it intends to seek review of the agreement by the FTC staff to ensure that the agreement satisfactorily addresses the staff's concerns. If the agreement is satisfactory to the FTC staff, IDEXX anticipates negotiating a consent agreement with the staff, which must then be approved by the Commission. Completion of the entire FTC consent agreement process would take several months.
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