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SOURCE Heska Corporation
Supply and License Agreement Amended and Extended through 2023
LOVELAND, Colo., Dec. 12, 2013 /PRNewswire/ -- Heska Corporation (NASDAQ: HSKA, "Heska" or the "Company"), a leading provider of veterinary diagnostic and specialty products, announced today that it has amended and extended its Supply and License Agreement with Merck Animal Health related to the supply of Heska's canine heartworm preventive. Merck Animal Health has the exclusive right to market and sell Heska's canine heartworm preventive in the United States and Canada.
Specific financial terms of the agreement were not disclosed. The agreement calls for certain discounts for Merck Animal Health as well as annual commitments to maintain exclusivity. In addition, Heska will receive payments from Merck Animal Health related to the reimbursement of research & development expenses as well as future milestone achievement.
"We are pleased to continue our relationship with one of the preeminent companies in the animal health industry", Michael McGinley, Heska's President of Pharmaceuticals and Biologicals commented. "We anticipate this agreement, along with our recent product enhancements, will serve to increase our production volume and ultimately, the market share our heartworm preventive is able to obtain."
Heska Corporation (NASDAQ: HSKA - News) sells advanced veterinary diagnostic and other specialty veterinary products. Heska's state-of-the-art offerings to its customers include diagnostic instruments and supplies as well as single use, point-of-care tests, pharmaceuticals and vaccines. The Company's core focus is on the canine and feline markets where it strives to provide high value products and unparalleled customer support to veterinarians. For further information on Heska and its products, visit the company's website at www.heska.com.
This announcement contains forward-looking statements regarding Heska's future financial and operating results. These statements are based on current expectations and are subject to a number of risks and uncertainties. In addition, factors that could affect the business and financial results of Heska generally include the following: risks related to the performance and actions of any third-party to which Heska has granted significant marketing rights, including Merck Animal Health; uncertainties regarding Heska's ability to achieve any development milestone; risks related to regulatory matters, including the risk a regulatory agency may require Heska to reduce the time to stated expiration of a product from time to manufacture; uncertainties related to competition and the impact of actions of competitors; and the risks set forth in Heska's filings and future filings with the Securities and Exchange Commission, including those set forth in Heska's Quarterly Report on Form 10-Q for the quarter ended September 30, 2013.
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