Zoetis Hits 52-Week High as FDA Clears Arthritis Drug for Dogs

Zoetis Inc. gains as much as 5.2% to the highest since April 2022 after the animal health company won clearance from US regulators for its Librela (bedinvetmab) injection, the first monoclonal antibody for dogs with osteoarthritis pain.

• The approval was announced by the FDA in a Friday morning statement
• Librela has the potential to contribute $45 million in revenue during the second half of this year, “based on the appetite for the drug” with veterinarians, according to a note after the news from Barclays (overweight)
  • “This approval marks an important milestone for ZTS, and underscores our OW thesis on the ...