Item 7.01Regulation FD Disclosure
IDEXX Laboratories, Inc. (NASDAQ: IDXX) ("IDEXX") is furnishing this Current
Report on Form 8-K to provide further information regarding its operations in
Russia.
Since March 2022, IDEXX has significantly scaled back its operations in Russia,
including the suspension of sales of veterinary diagnostic equipment;
promotional, marketing, and hiring activities; and new business development and
related investments. IDEXX's 2021 annual revenue in Russia represented less than
1% of IDEXX's 2021 consolidated revenue. IDEXX has no manufacturing or
significant supply arrangement in Russia.
After careful consideration, IDEXX has decided to wind down and liquidate our
sole Russian subsidiary, as well as its direct Russian operations, starting
immediately. These discontinued operations consist of marketing and selling
diagnostic products for veterinary clinics in Russia.
As IDEXX works to wind down its Russian operations, the Company is focused on
providing transition support to its impacted Russian employees.
After we conclude the wind-down of our direct Russian operations, only a limited
number of our products, which are important for human or animal health care,
will continue to be sold in Russia pursuant to ongoing third-party distribution
agreements.
The information disclosed under this Item 7.01 is being furnished and shall not
be deemed "filed" for purposes of Section 18 of the Securities and Exchange Act
of 1934, as amended, nor shall it be incorporated by reference into any
registration statement or other document pursuant to the Securities Act of 1933,
as amended, except as expressly set forth in such filing.
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