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| MWIV > SEC Filings for MWIV > Form 8-K on 24-Nov-2009 | All Recent SEC Filings |
24-Nov-2009
Termination of a Material Definitive Agreement
On November 20, 2009, Pfizer, Inc. ("Pfizer") delivered to MWI Veterinary Supply Co. ("MWI"), a wholly-owned subsidiary of MWI Veterinary Supply, Inc., a notice on behalf of Fort Dodge Animal Health that it was electing not to renew the term of the Ethical Distribution Agreement between Fort Dodge and MWI (the "Ethical Distribution Agreement") which is set to expire on December 31, 2009. On October 15, 2009, Pfizer completed its acquisition of Wyeth, which includes Fort Dodge as a subsidiary.
The Ethical Distribution Agreement with Fort Dodge provided that MWI acted as a distributor of Fort Dodge products in the United States on a non-exclusive basis. MWI was required to actively promote and solicit sales of Fort Dodge products and to include Fort Dodge products in its regular sales promotions. In return, MWI was entitled to participate in Fort Dodge's distributor incentive programs. The Ethical Distribution Agreement with Fort Dodge had an original term that expired on December 31, 2004 but the agreement had been automatically renewed for additional periods of one year through December 31, 2009.
MWI is currently in negotiations with Pfizer to establish new contracts for calendar year 2010. Pfizer has informed MWI that it will be rolling many of the Fort Dodge Animal Health contracts into a new Pfizer Animal Health distributor agreement for 2010.
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