IDEXX Labs (IDXX) Enters Consent Agreement with FTC Over Antitrust Investigation
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IDEXX Laboratories, Inc. (Nasdaq: IDXX) and the staff of the Bureau of Competition of the U.S. Federal Trade Commission ("FTC") have signed a Consent Agreement to resolve the FTC's investigation into whether the Company engaged in unfair methods of competition.
Under the Consent Agreement, IDEXX cannot have exclusive distribution agreements with all three of MWI Veterinary Supply, Inc. ("MWI"), Butler Schein Animal Health, and Webster Veterinary. IDEXX may maintain exclusive distribution agreements with two of these three distributors. IDEXX's non-exclusive agreement with MWI, effective January 1, 2013, brings the Company into compliance with the terms of the Consent Agreement.
The Consent Agreement expressly states that the Company admits no wrongdoing.
Under the Consent Agreement, IDEXX cannot have exclusive distribution agreements with all three of MWI Veterinary Supply, Inc. ("MWI"), Butler Schein Animal Health, and Webster Veterinary. IDEXX may maintain exclusive distribution agreements with two of these three distributors. IDEXX's non-exclusive agreement with MWI, effective January 1, 2013, brings the Company into compliance with the terms of the Consent Agreement.
The Consent Agreement expressly states that the Company admits no wrongdoing.
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