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Librela U.S. label update ‘better than feared’ for Zoetis, says Morgan Stanley

Librela U.S. label update ‘better than feared’ for Zoetis, says Morgan Stanley

Morgan Stanley analyst Erin Wright views the latest label change for Librela as “encouraging,” offering vets clarity in prescribing, and while investor expectations on the significance of the label change varied, on balance the update was “better than feared” as Zoetis (ZTS) avoided a potential black box warning or more egregious restrictions around use, the analyst tells investors. Given that the label was changed with the input of the FDA, the firm would expect no meaningful changes to the final FDA-approved label in 30 days or sooner, added the analyst, who has an Overweight rating and $243 price target on Zoetis shares.

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