PetIQ, Inc. Announces Amicable Legal Resolution
PetIQ to Continue Offering Customers Its Advecta3® and PetLock® MAX Formulations
EAGLE, Idaho, Jan. 22, 2019 (GLOBE NEWSWIRE) -- PetIQ, Inc. (“PetIQ” or the “Company”) (Nasdaq: PETQ), a leading pet medication and wellness company, today announced that Bayer Healthcare LLC and PetIQ’s supplier of Advecta3® and PetLock® MAX have amicably resolved Bayer’s patent infringement complaint regarding the products, and the lawsuit has been dismissed with prejudice.
Cord Christensen, PetIQ’s Chairman and Chief Executive Officer, commented, “We have a long history of acting responsibly within the industry and this remains a cornerstone of our culture at PetIQ. Litigation is a component of today’s business environment, and while we do not seek this out, it is our intention to remain vigilant, defending our Company whenever necessary. Our record of accomplishment in this regard speaks for itself and we are pleased to have this matter behind us. Our mission to make pets’ lives better with more affordable and accessible veterinarian services and products has never been stronger. We believe our category leadership, broad product portfolio, compelling service offerings, value proposition, and strong customer relationships will continue to fuel our future growth and value for our shareholders.”
PetIQ will continue to offer its customers Advecta3 and PetLock MAX flea and tick treatments and other value branded veterinarian grade medications, consistent with its mission of providing pet parents convenient access and affordable choices for pet preventative and wellness veterinary products and services.
About PetIQPetIQ is a leading, rapidly growing pet health and wellness company. Through over 60,000 points of distribution across retail and e-commerce channels, PetIQ and VIP Petcare, a wholly-owned subsidiary, have a mission to make pet lives better by educating pet parents on the importance of offering regular, convenient access and affordable choices for pet preventive and wellness veterinary products and services. PetIQ believes that pets are an important part of the family and deserve the best products and care we can give them. For more information, visit www.PetIQ.com.
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