IDEXX Releases 2023 Corporate Responsibility Report, Highlighting Progress Against Its Goals

Rhea-AI Summary

IDEXX Laboratories, Inc. (NASDAQ: IDXX) has released its 2023 Corporate Responsibility Report, highlighting progress in pet healthcare innovation and corporate responsibility goals. Key achievements include:

Healthcare Advancements: Launch of IDEXX Cystatin B Test for kidney injury detection and development of new products like IDEXX inVue Dx™ Cellular Analyzer.

Community Support: Enabled access to care for over 245,000 animals in underserved communities in 2023.

Workplace Initiatives: Maintained gender balance in global management roles, supported women in STEM, and logged over 73,000 hours of employee learning and development.

Environmental Progress: Procured a virtual power purchase agreement for clean electricity in North America and installed a dual-source energy system at a European reference laboratory.

Positive

• Launched IDEXX Cystatin B Test for kidney injury detection, enhancing their diagnostic menu
• Enabled access to care for over 245,000 animals in underserved communities in 2023
• Maintained gender balance in global management roles
• Exceeded 2025 goal of 15,000 annual employee volunteer hours with over 18,000 hours logged
• Procured a virtual power purchase agreement for clean electricity in North America

Negative

• None.

WESTBROOK, Maine, July 30, 2024 /PRNewswire/ -- IDEXX Laboratories, Inc. (NASDAQ: IDXX), a global leader in pet healthcare innovation, today published its 2023 Corporate Responsibility Report "Enhancing the Health and Well-being of Pets, People, and Livestock for 40 Years" highlighting progress against its corporate responsibility goals.

The Care We Advance
IDEXX brings clarity to the complex world of veterinary medicine through diagnostic insights and software solutions that support longer, fuller lives for pets and those who care for them. Key highlights from the report include:

• Expanded IDEXX Reference Laboratories menu with the launch of IDEXX Cystatin B Test in North America, adding kidney injury detection to the most comprehensive menu for kidney health in the industry.
  
  
• Advanced the development of several new innovative product launches planned for 2024, including the IDEXX inVue Dx™ Cellular Analyzer and Fecal Dx™ antigen testing expansion with Cystoisospora detection.
  
  
• Supported underserved communities by enabling access to care for over 245,000 animals in 2023, with a cumulative total of over 625,000 animals through our global social initiatives since 2022.

The People We Support
IDEXX strives to foster a collaborative and inclusive workplace that empowers our employees to develop and grow and find purpose and fulfillment in all they do. Key highlights from the report include:

• Maintained gender balance in global management roles and continued to support women in STEM.
  
  
• Supported achieving over 18,000 logged employee volunteer hours, exceeding the Company's 2025 goal of 15,000 annual volunteer hours.
  
  
• Logged over 73,000 hours of learning and development.

The Planet We Share
IDEXX recognizes the importance of protecting the planet and its relationship to animal and human health. Key highlights from the report describe IDEXX's progress towards achieving its greenhouse gas emissions reduction goals and include:

• Procured a virtual power purchase agreement with a solar developer to support the development of new, clean electricity in North America.
  
  
• Installed a dual-source energy system at our core European reference laboratory in Kornwestheim, Germany, enabling this location to purchase power under a renewable electricity supply contract.
  
  
• Updated SNAP™ Feline Triple™ Test so that it can be shipped at room temperature, reducing shipping emissions, packaging, and waste.

"Our progress against our corporate responsibility goals and commitments in 2023 continues to be closely aligned with our business strategy and innovation agenda," said Jay Mazelsky, IDEXX President and Chief Executive Officer. "This would not be possible without the coordinated and focused efforts of our global employees. I am extremely grateful and appreciative of their outstanding work and commitment."

IDEXX's 2023 report focuses on IDEXX's key corporate responsibility topics in alignment with reporting standards and frameworks, such as those released by the Sustainability Accounting Standards Board and the Task Force on Climate-Related Financial Disclosures, as well as our business strategy. Read the 2023 Corporate Responsibility Report here.

About IDEXX
IDEXX is a global leader in pet healthcare innovation. Our diagnostic and software products and services create clarity in the complex, constantly evolving world of veterinary medicine. We support longer, fuller lives for pets by delivering insights and solutions that help the veterinary community around the world make confident decisions—to advance medical care, improve efficiency, and build thriving practices. Our innovations also help ensure the safety of milk and water across the world and maintain the health and well-being of people and livestock. IDEXX Laboratories, Inc. is a member of the S&P 500^® Index. Headquartered in Maine, IDEXX employs approximately 11,000 people and offers solutions and products to customers in more than 175 countries and territories. For more information about IDEXX, visit idexx.com.

Note Regarding Forward-Looking Statements
This news release contains or may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the use of words such as "expects," "may," "anticipates," "intends," "would," "will," "plans," "believes," "estimates," "should," "project," and similar words and expressions. These forward-looking statements are intended to provide our current expectations or forecasts of future events; are based on current estimates, projections, beliefs, and assumptions; and are not guarantees of future performance. Actual events or results may differ materially from those described in the forward-looking statements. These statements are subject to risks, uncertainties, assumptions, and other important factors. Readers are cautioned not to put undue reliance on such forward-looking statements because actual results may vary materially from those expressed or implied. The reports filed by IDEXX pursuant to United States securities laws contain discussions of some of these risks and uncertainties. IDEXX assumes no obligation to, and expressly disclaims any obligation to, update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Readers are advised to review IDEXX's filings with the United States Securities and Exchange Commission (which are available from the SEC's EDGAR database at sec.gov and via IDEXX's website at idexx.com).

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SOURCE IDEXX Laboratories, Inc.

FAQ

What new product did IDEXX (IDXX) launch in 2023 for kidney health diagnostics?

IDEXX launched the IDEXX Cystatin B Test in North America in 2023, adding kidney injury detection to their comprehensive kidney health diagnostic menu.

How many animals did IDEXX (IDXX) help through its global social initiatives in 2023?

IDEXX enabled access to care for over 245,000 animals in underserved communities in 2023, contributing to a cumulative total of over 625,000 animals since 2022.

What environmental initiative did IDEXX (IDXX) implement in its European reference laboratory in 2023?

IDEXX installed a dual-source energy system at its core European reference laboratory in Kornwestheim, Germany, enabling the location to purchase power under a renewable electricity supply contract.

How many employee volunteer hours did IDEXX (IDXX) log in 2023?

IDEXX employees logged over 18,000 volunteer hours in 2023, exceeding the company's 2025 goal of 15,000 annual volunteer hours.