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News Breaks | | | | October 1, 2012 | | 08:42 EDT |  | MWIV, ABAX | MWI Veterinary Supply announces distribution agreement with Abaxis
MWI Veterinary Supply Co, a wholly owned subsidiary of MWI Veterinary Supply, Inc. (MWIV), and ABAXIS (ABAX) entered into a Non-Exclusive Distributor Agreement and a separate letter agreement on September 28 effective for sales made after January 1, 2013. Under the ABAXIS Agreement, MWI is entitled to distribute ABAXIS in vitro analysis products to end-user veterinary customers in the United States. MWI has committed to submit purchase orders for at least $15M in the aggregate of ABAXIS products with purchase date milestones during the first and second quarters of fiscal year 2013. MWI is required to use commercially reasonable efforts to distribute ABAXIS products in the United States, maintain a minimum of thirty days’ inventory of ABAXIS products, and stock or assist end-user veterinary customers with obtaining proper blood transfer devices. The ABAXIS Agreement expires on January 1, 2014, and automatically renews for successive one-year terms. Either party may terminate the ABAXIS Agreement without cause with thirty days’ notice to the other party during any renewal term. ABAXIS may terminate the agreement with written notice if MWI breaches the agreement or if MWI undergoes a change in control. | |
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