Zoetis
Zoetis Inc. (/zō-EH-tis/[4]) is the world's largest producer of medicine and vaccinations for pets and livestock.[5][4][6] The company was a subsidiary of Pfizer, the world's largest drug maker, but with Pfizer's spinoff of its 83% interest in the firm it is now a completely independent company. The company directly markets the products in approximately 45 countries, and sells the products in more than 100 countries. Operations outside the United States accounted for 50% of the total revenue.[5] Contemporaneous with the spinoff in June 2013 S&P Dow Jones Indices announced that Zoetis would replace First Horizon National Corporation in the S&P 500 stock market index.[7]
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Public | |
Traded as | |
ISIN | US98978V1035 ![]() |
Industry | Pharmaceutical |
Founded | 1952 |
Headquarters | Parsippany, New Jersey, U.S.[1] |
Area served | Worldwide |
Key people | Kristin Peck (CEO) |
Revenue | ![]() |
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Total assets | ![]() |
Total equity | ![]() |
Number of employees | 9,200[2] (2017) |
Website | Zoetis.com |
Footnotes / references [3] |
History
1950s to 2000s

In the 1950s, Pfizer began research on several drugs, including oxytetracycline.[8] John McKeen, a chemical engineer, discovered its effective use in livestock. In 1952, the Pfizer Agriculture Division opened a research and development facility in Terre Haute, Indiana, called Vigo.[8][9] By 1988 the division was renamed Pfizer Animal Health.[8]
The acquisition of Norden Laboratories from GlaxoSmithKline in 1995 expanded Pfizer's animal health division into small animal care, including domestic pets.[8] Secondary research and development centres were opened in Kalamazoo, Michigan, in 2003.[8] In the same year, Pfizer acquired Pharmacia Corporation for sixty billion dollars in stock options.[10] Between 2007 and 2011, the company acquired Embrex Inc, Catapult Genetics, Bovigen, Wyeth, Fort Dodge Animal Health, Vetnex Animal Health Ltd, Synbiotics Corporation, Microtek, King Pharmaceuticals, and Alpharma.[8]
2010s to present
Plans to spin off Pfizer Animal Health into a separate company were announced in 2012.[11][4] The name Zoetis was derived from the zoological term zoetic.[4]
Zoetis Inc.'s revenues exceeded $4.2 billion in 2011 and $4.34 billion in 2012.[12][13][4]
On 22 May 2013, The Wall Street Journal reported that Pfizer planned to sell its majority stake in the company,[13] in keeping with Pfizer's decision to shed other non-pharmaceuticals subsidiaries to save costs, raise capital, and pay off debt. The company announced that JPMorgan Chase, Bank of America Merrill Lynch, Goldman Sachs & Co., and Morgan Stanley as lead underwriters.[14][13]
In November 2014, activist investor Bill Ackman disclosed that Pershing Square Capital Management had taken an 8.5% stake in the company, amassing approximately 41.8 million shares, causing the share price to hit its highest price since the IPO.[15] On 17 November, the company announced it would acquire a portfolio of pet drugs from Abbott Laboratories for approximately $255 million.[16] On 1 January, 2020, Kristin Peck became CEO of Zoetis.[17]
2012: IPO
Pfizer officially filed for registration of a Class A stock on 10 August 2012.[8][18] Zoetis' IPO on 1 February 2013 sold 86.1 million shares for US$ 2.2 billion.[19] Shares sharply rose 19% by the end of the trading day to $35.01 a share, up from $26.[4] At the time, it was the largest IPO from a U.S. company since Facebook's $16 billion IPO on 18 May 2012.[20] Pfizer retained 414 million Class B shares giving it an 83% controlling stake in the firm.[21][1] Stock investors were attracted to the steep profit margin in proportion to revenue and consumer confidence in potential future growth of the subsidiary.[4] The offering's lead underwriters were JPMorgan Chase, Bank of America Merrill Lynch and Morgan Stanley.[19] Most of the money raised through the IPO was used to pay off existing Pfizer debt.[4]
Acquisitions
In November 2015, the company announced it would acquire developer of aquaculture treatments, Pharmaq, for $765 million.[22][23] In 2017, Zoetis acquired Ireland-based Nexvet, a company with a biologics-focused technology and product candidate pipeline.[24]
In May 2018, the company announced its intention to acquire Abaxis for $1.9 billion in cash.[25]
In April 2020, Zoetis acquired Performance Livestock Analytics. Terms of the deal weren't disclosed.[26]
Products
Twenty-eight sites in 11 countries make up Zoetis manufacturing network, each facility designed to meet chemical and infectious agent safety regulatory requirements. Many R&D operations are co-located with manufacturing sites, a collaboration that allows bringing new products to market faster. Zoetis builds on six-decade Pfizer history and aims for high tech innovative manufacturing technologies. Zoetis products include:[27]
Business with bloodfarms
Zoetis has been supplying equine chorionic gonadotropin (ECG) hormones to Syntex, in South America, since 2015[28] : Syntex is accused for animal cruelty[29][30].
References
- DIETERICH, CHRIS (31 January 2013). "Zoetis Raises $2.2 Billion in IPO - WSJ.com". The Wall Street Journal. New York. Retrieved 1 February 2013.
- "Zoetis". Fortune. Retrieved 7 January 2019.
- "Zoetis Inc. 2017 Annual Report Form (10-K)". U.S. Securities and Exchange Commission. 15 February 2018. Retrieved 29 September 2018.
- "Shares of animal health company Zoetis soar in IPO". CBS News. New York. 1 February 2013. Retrieved 1 February 2013.
- "Zoetis Inc, Form 10-K, Annual Report, Filing Date Feb 15, 2018" (PDF). secdatabase.com. Retrieved 26 April 2018.
- "Zoetis raises about $2.2 billion in IPO". The Associated Press. New York: Yahoo!. 1 February 2013. Retrieved 1 February 2013.
- Volkman, Eric (17 June 2013). "Zoetis to Join S&P 500; First Horizon National, QLogic Moved to New Indices -". The Motley Fool.
- "Form S-1". WASHINGTON, D.C: U.S. Securities and Exchange Commission. 10 August 2012. Retrieved 2 February 2013.
- "Pfizer Buys 732 Acre Vigo Chemical Plant". Chicago Daily Tribune. 17 July 1958. p. 1. Retrieved 2 February 2013.
- Frank, Robert; Hensley, Scott (15 July 2002). "Pfizer to Buy Pharmacia For $60 Billion in Stock". The Wall Street Journal. Retrieved 2 February 2013.
- "Zoetis Inc, Form S-1/A, Filing Date Oct 11, 2012". secdatabase.com. Retrieved 26 April 2018.
- "Zoetis Inc, Form 10-K, Annual Report, Filing Date Mar 28, 2013" (PDF). secdatabase.com. Retrieved 26 April 2018.
- Loftus, Peter (22 May 2013). "Pfizer to Spin Off Remaining Zoetis Stake". The Wall Street Journal. Retrieved 27 May 2013.
- "Zoetis Inc, Form 425, Filing Date May 23, 2013" (PDF). secdatabase.com. Retrieved 26 April 2018.
- Chen, Caroline (11 November 2014). "Ackman's Pershing Square Takes Stake in Drugmaker Zoetis". Bloomberg.
- "Zoetis Inc, Form 8-K, Current Report, Filing Date Nov 17, 2014". secdatabase.com. Retrieved 26 April 2018.
- https://www.zacks.com/stock/news/553063/zoetis-appoints-kristin-peck-as-new-ceo-alaix-to-retire
- "Zoetis Inc, Form S-1/A, Filing Date Jan 29, 2013". secdatabase.com. Retrieved 26 April 2018.
- J. DE LA MERCED, MICHAEL (1 February 2013). "Shares of Zoetis Surge on Debut". New York Times. New York. Retrieved 1 February 2013.
- "Facebook, Form 424B4, Filing Date May 18, 2012". secdatabase.com. Retrieved 27 April 2018.
- "Zoetis, Form S-1/A, Filing Date Jan 29, 2013". secdatabase.com. Retrieved 27 April 2018.
- "Zoetis, Form 8-K, Current Report, Filing Date Nov 2, 2015". secdatabase.com. Retrieved 27 April 2018.
- "Zoetis Purchasing PHARMAQ for $765M". 3 November 2015.
- Vinluan, Frank (13 April 2017). "Zoetis Builds on Biologics Pipeline with $85M Nexvet Acquisition". Xconomy. New York, NY, USA. Retrieved 9 April 2018.
- "Zoetis to buy veterinary diagnostics firm Abaxis for $1.9 billion". 16 May 2018 – via uk.reuters.com.
- Fool, Contributor Jim Crumly The Motley. "Zoetis Acquires Cloud-Based Livestock Software Company". www.nasdaq.com. Retrieved 9 April 2020.
- Pfizer Animal Health Products Archived 22 July 2012 at the Wayback Machine
- https://www.milkpoint.com.br/empresas/novidades-parceiros/zoetis-representara-com-exclusividade-linha-reprodutiva-da-syntex-no-pais-90228n.aspx
- https://dossier.tierschutzbund-zuerich.ch/de/production-of-pmsg-in-argentina-and-uruguay.html
- https://www.eurogroupforanimals.org/animal-welfare-foundation-and-tierschutzbund-zurich-ceva-and-idt-biologika-will-stop-sourcing-pmsg-ecg-from-blood-farms-where-mares-are-still-systematically-tortured/
External links
- Business data for Zoetis: