MWI Vet Supply (MWIV), IDEXX Labs (IDXX) Enter non-Exclusive Distribution Agreement
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MWI Veterinary Supply Co. (Nasdaq: MWIV), a wholly owned subsidiary of MWI Veterinary Supply, Inc., and IDEXX Laboratories, Inc. (Nasdaq: IDXX) on September 28, 2012 entered into an IDEXX Distribution Agreement effective January 1, 2013.
Under the IDEXX Agreement, MWI is entitled to distribute IDEXX’s animal diagnostic products to end-user veterinary customers in the United States and in certain U.S. territories. Under the IDEXX Agreement, MWI will be a non-exclusive distributor of IDEXX products and MWI may promote, market, sell or distribute products of other competing manufacturers in the defined territory. MWI is required to use commercially reasonable efforts to market and promote IDEXX animal diagnostic products in the defined territory. The IDEXX Agreement expires on December 31, 2014, and automatically renews for successive twelve-month periods unless MWI or IDEXX provide thirty days’ notice of intent to terminate prior to the end of the initial or renewal terms. Either party may terminate the IDEXX Agreement with thirty days’ notice for material breach of the agreement or if the other party becomes insolvent.
Under the IDEXX Agreement, MWI is entitled to distribute IDEXX’s animal diagnostic products to end-user veterinary customers in the United States and in certain U.S. territories. Under the IDEXX Agreement, MWI will be a non-exclusive distributor of IDEXX products and MWI may promote, market, sell or distribute products of other competing manufacturers in the defined territory. MWI is required to use commercially reasonable efforts to market and promote IDEXX animal diagnostic products in the defined territory. The IDEXX Agreement expires on December 31, 2014, and automatically renews for successive twelve-month periods unless MWI or IDEXX provide thirty days’ notice of intent to terminate prior to the end of the initial or renewal terms. Either party may terminate the IDEXX Agreement with thirty days’ notice for material breach of the agreement or if the other party becomes insolvent.
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