Interview Transcript

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How do producers select suppliers for their medications and vaccines?

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First, is the relationship or lack thereof and second, is the breadth of their product portfolio. Zoetis has a wide portfolio offering producers convenience, consistency and volume discounts across categories. Large producers drive the business because of theirs and their veterinarian's relationship with a company.

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Disregarding the relationship large pharma has with producers regarding the breadth of the portfolio, is price also always a key condition?

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The American Angus Association partnered with Neogen, a major competitor of Zoetis, to create a new genetic test. It was owned by the association and was superior to the test Zoetis had in place, and cost half the price. When it was introduced, Zoetis had 80% market share with our members, and most thought, in a year, they would be lucky to have 20%, but it only fell 50% because of those strategic account relationship agreements they had in place. Even though they knew the other product was better, they realized Zoetis had been charging them twice as much because Zoetis dropped the price to match the new product. It didn't matter because they knew if they walked away and reduced their volume, it would also affect the price on all the other products.

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