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| footnotes = <ref>{{cite web |url=https://www.sec.gov/ix?doc=/Archives/edgar/data/1555280/000155528024000143/zts-20231231.htm |title=Zoetis Inc. 2023 Annual Report Form (10-K) |publisher=[[U.S. Securities and Exchange Commission]] |date=February 13, 2024 |access-date=February 15, 2024}}</ref><ref name="WSJIPO">{{cite news|url=https://www.wsj.com/articles/SB10001424127887323701904578276530830057770 |title=Zoetis Raises $2.2 Billion in IPO - WSJ.com|last=DIETERICH|first=CHRIS|date=31 January 2013|work=[[The Wall Street Journal]]|access-date=1 February 2013|location=New York}}</ref>
| footnotes = <ref>{{cite web |url=https://www.sec.gov/ix?doc=/Archives/edgar/data/1555280/000155528024000143/zts-20231231.htm |title=Zoetis Inc. 2023 Annual Report Form (10-K) |publisher=[[U.S. Securities and Exchange Commission]] |date=February 13, 2024 |access-date=February 15, 2024}}</ref><ref name="WSJIPO">{{cite news|url=https://www.wsj.com/articles/SB10001424127887323701904578276530830057770 |title=Zoetis Raises $2.2 Billion in IPO - WSJ.com|last=DIETERICH|first=CHRIS|date=31 January 2013|work=[[The Wall Street Journal]]|access-date=1 February 2013|location=New York}}</ref>
}}
}}
'''Zoetis Inc.''' (/zō-EH-tis/<ref name="CBSIPO">{{cite news|url=http://www.cbsnews.com/8301-34227_162-57567222/shares-of-animal-health-company-zoetis-soar-in-ipo/|title=Shares of animal health company Zoetis soar in IPO|date=1 February 2013|work=[[CBS News]]|access-date=1 February 2013|location=New York}}</ref>) is an American [[drug company]], the world's largest producer of [[medicine]] and [[vaccinations]] for [[pets]] and [[livestock]].<ref name="Zoetis-Inc-Feb-2018-10-K">{{cite web|url=http://pdf.secdatabase.com/2372/0001555280-18-000053.pdf |title=Zoetis Inc, Form 10-K, Annual Report, Filing Date Feb 15, 2018 |publisher=secdatabase.com |access-date =Apr 26, 2018}}</ref><ref name="CBSIPO" /><ref>{{cite news|url=https://finance.yahoo.com/news/zoetis-raises-2-2-billion-124704383.html|title=Zoetis raises about $2.2 billion in IPO|date=1 February 2013|work=[[The Associated Press]]|publisher=[[Yahoo!]]|access-date=1 February 2013|location=New York}}</ref> The company was a [[subsidiary]] of [[Pfizer]],<ref name=":0" /> the world's largest [[drug maker]], but with [[Pfizer|Pfizer's]] spinoff of its 83% interest in the firm it is now a completely independent company. The company directly markets its products in approximately 45 countries, and sells them in more than 100 countries.<ref name=":2">{{Cite journal |last=Agri Marketing |date=November 2018 |title=Zoetis on Its Fifth Anniversary |url=https://search.ebscohost.com/login.aspx?direct=true&db=bth&AN=133611172&lang=en-gb&site=eds-live&scope=site |journal=Agri Marketing |volume=56 |issue=9 |pages=44–48}}</ref> Operations outside the United States accounted for 50% of the total revenue.<ref name="Zoetis-Inc-Feb-2018-10-K"/> 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.<ref>{{cite web|url=https://www.fool.com/investing/general/2013/06/17/zoetis-to-join-sp-500-first-horizon-national-qlogi.aspx|title=Zoetis to Join S&P 500; First Horizon National, QLogic Moved to New Indices -|first=Eric|last=Volkman|date=17 June 2013|website=The Motley Fool}}</ref>
'''Zoetis Inc.''' (/zō-EH-tis/<ref name="CBSIPO">{{cite news|url=https://www.cbsnews.com/news/shares-of-animal-health-company-zoetis-soar-in-ipo/|title=Shares of animal health company Zoetis soar in IPO|date=1 February 2013|work=[[CBS News]]|access-date=1 February 2013|location=New York}}</ref>) is an American [[drug company]], the world's largest producer of [[medicine]] and [[vaccinations]] for [[pets]] and [[livestock]].<ref name="Zoetis-Inc-Feb-2018-10-K">{{cite web|url=http://pdf.secdatabase.com/2372/0001555280-18-000053.pdf |title=Zoetis Inc, Form 10-K, Annual Report, Filing Date Feb 15, 2018 |publisher=secdatabase.com |access-date =Apr 26, 2018}}</ref><ref name="CBSIPO" /><ref>{{cite news|url=https://finance.yahoo.com/news/zoetis-raises-2-2-billion-124704383.html|title=Zoetis raises about $2.2 billion in IPO|date=1 February 2013|work=[[The Associated Press]]|publisher=[[Yahoo!]]|access-date=1 February 2013|location=New York}}</ref> The company was a [[subsidiary]] of [[Pfizer]],<ref name=":0" /> the world's largest [[drug maker]], but with [[Pfizer|Pfizer's]] spinoff of its 83% interest in the firm it is now a completely independent company. The company directly markets its products in approximately 45 countries, and sells them in more than 100 countries.<ref name=":2">{{Cite journal |last=Agri Marketing |date=November 2018 |title=Zoetis on Its Fifth Anniversary |url=https://search.ebscohost.com/login.aspx?direct=true&db=bth&AN=133611172&lang=en-gb&site=eds-live&scope=site |journal=Agri Marketing |volume=56 |issue=9 |pages=44–48}}</ref> Operations outside the United States accounted for 50% of the total revenue.<ref name="Zoetis-Inc-Feb-2018-10-K"/> 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.<ref>{{cite web|url=https://www.fool.com/investing/general/2013/06/17/zoetis-to-join-sp-500-first-horizon-national-qlogi.aspx|title=Zoetis to Join S&P 500; First Horizon National, QLogic Moved to New Indices -|first=Eric|last=Volkman|date=17 June 2013|website=The Motley Fool}}</ref>


== History ==
== History ==
Line 38: Line 38:
Zoetis Inc.'s revenues exceeded $4.2 billion in 2011 and $4.34 billion in 2012.<ref name="Zoetis-Inc-Mar-2013-10-K">{{cite web|url=http://pdf.secdatabase.com/1660/0001555280-13-000008.pdf |title=Zoetis Inc, Form 10-K, Annual Report, Filing Date Mar 28, 2013 |publisher=secdatabase.com |access-date =April 26, 2018}}</ref><ref name="WSJ2" /><ref name="CBSIPO" /> The animal health industry worldwide is an estimated [[US$]]22 billion industry.<ref name="CBSIPO" />
Zoetis Inc.'s revenues exceeded $4.2 billion in 2011 and $4.34 billion in 2012.<ref name="Zoetis-Inc-Mar-2013-10-K">{{cite web|url=http://pdf.secdatabase.com/1660/0001555280-13-000008.pdf |title=Zoetis Inc, Form 10-K, Annual Report, Filing Date Mar 28, 2013 |publisher=secdatabase.com |access-date =April 26, 2018}}</ref><ref name="WSJ2" /><ref name="CBSIPO" /> The animal health industry worldwide is an estimated [[US$]]22 billion industry.<ref name="CBSIPO" />


On May 22, 2013, ''[[The Wall Street Journal]]'' reported that Pfizer planned to sell its majority stake in the company.<ref name="WSJ2">{{cite news|url=https://www.wsj.com/articles/SB10001424127887323975004578498994013821124|title=Pfizer to Spin Off Remaining Zoetis Stake|last=Loftus|first=Peter|date=May 22, 2013|work=[[The Wall Street Journal]]|access-date=May 27, 2013}}</ref> According to the report, shareholders will have the option to swap their Pfizer shares for Zoetis shares.<ref name="WSJ2" /> The sell-off of Zoetis is consistent with Pfizer's recent decision to shed other non-pharmaceuticals subsidiaries in an effort to save costs, raise capital, and pay off debt. The company has announced that [[JPMorgan Chase]], [[Bank of America]], [[Merrill Lynch & Co.|Merrill Lynch]], [[Goldman Sachs|Goldman Sachs & Co.]], and [[Morgan Stanley]] will be the lead underwriters.<ref name="Zoetis-Inc-May-2013-425">{{cite web|url=http://pdf.secdatabase.com/2788/0001193125-13-233678.pdf |title=Zoetis Inc, Form 425, Filing Date May 23, 2013 |publisher=secdatabase.com |access-date =April 26, 2018}}</ref><ref name="WSJ2" />
On May 22, 2013, ''[[The Wall Street Journal]]'' reported that Pfizer planned to sell its majority stake in the company.<ref name="WSJ2">{{cite news|url=https://www.wsj.com/articles/SB10001424127887323975004578498994013821124|title=Pfizer to Spin Off Remaining Zoetis Stake|last=Loftus|first=Peter|date=May 22, 2013|work=[[The Wall Street Journal]]|access-date=May 27, 2013}}</ref> According to the report, shareholders would have the option to swap their Pfizer shares for Zoetis shares.<ref name="WSJ2" /> The sell-off of Zoetis was consistent with Pfizer's recent decision to shed other non-pharmaceutical subsidiaries in an effort to save costs, raise capital, and pay off debt. The company announced that [[JPMorgan Chase]], [[Bank of America]], [[Merrill Lynch & Co.|Merrill Lynch]], [[Goldman Sachs|Goldman Sachs & Co.]], and [[Morgan Stanley]] would be the lead underwriters.<ref name="Zoetis-Inc-May-2013-425">{{cite web|url=http://pdf.secdatabase.com/2788/0001193125-13-233678.pdf |title=Zoetis Inc, Form 425, Filing Date May 23, 2013 |publisher=secdatabase.com |access-date =April 26, 2018}}</ref><ref name="WSJ2" />


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.<ref>{{cite news| url=https://www.bloomberg.com/news/2014-11-11/ackman-s-pershing-square-takes-stake-in-animal-drugmaker-zoetis.html | work=Bloomberg | first=Caroline | last=Chen | title=Ackman's Pershing Square Takes Stake in Drugmaker Zoetis | date=11 November 2014}}</ref> On 17 November, the company announced it would acquire a portfolio of pet drugs from [[Abbott Laboratories]] for approximately $255 million.<ref name="Zoetis-Inc-Nov-2014-8-K">{{cite web|url=http://edgar.secdatabase.com/326/155528014000340/filing-main.htm |title=Zoetis Inc, Form 8-K, Current Report, Filing Date Nov 17, 2014 |publisher=secdatabase.com |access-date =Apr 26, 2018}}</ref>
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.<ref>{{cite news| url=https://www.bloomberg.com/news/2014-11-11/ackman-s-pershing-square-takes-stake-in-animal-drugmaker-zoetis.html | work=Bloomberg | first=Caroline | last=Chen | title=Ackman's Pershing Square Takes Stake in Drugmaker Zoetis | date=11 November 2014}}</ref> On 17 November, the company announced it would acquire a portfolio of pet drugs from [[Abbott Laboratories]] for approximately $255 million.<ref name="Zoetis-Inc-Nov-2014-8-K">{{cite web|url=http://edgar.secdatabase.com/326/155528014000340/filing-main.htm |title=Zoetis Inc, Form 8-K, Current Report, Filing Date Nov 17, 2014 |publisher=secdatabase.com |access-date =Apr 26, 2018}}</ref>
Line 48: Line 48:
In November 2015, the company announced it would acquire a developer of aquaculture treatments and diseases, Pharmaq, for $765 million.<ref name="Zoetis-Nov-2015-8-K">{{cite web|url=http://edgar.secdatabase.com/1559/155528015000240/filing-main.htm |title=Zoetis, Form 8-K, Current Report, Filing Date Nov 2, 2015 |publisher=secdatabase.com |access-date =April 27, 2018}}</ref><ref>{{cite web|url=https://www.genengnews.com/topics/drug-discovery/zoetis-purchasing-pharmaq-for-765m/|title=Zoetis Purchasing PHARMAQ for $765M|date=3 November 2015}}</ref> In 2017, Zoetis acquired Ireland-based Nexvet, a company with a biologics focused technology and product candidate pipeline.<ref>{{cite news |last=Vinluan |first=Frank |date=13 Apr 2017 |title= Zoetis Builds on Biologics Pipeline with $85M Nexvet Acquisition|url=https://www.xconomy.com/new-york/2017/04/13/zoetis-builds-on-biologics-pipeline-with-85m-nexvet-acquisition/ |work= [[Xconomy]]|location=New York, NY, USA |access-date=9 Apr 2018 }}</ref> In the same year, the company also acquired KL Automation, a robotics company.<ref name=":2" />
In November 2015, the company announced it would acquire a developer of aquaculture treatments and diseases, Pharmaq, for $765 million.<ref name="Zoetis-Nov-2015-8-K">{{cite web|url=http://edgar.secdatabase.com/1559/155528015000240/filing-main.htm |title=Zoetis, Form 8-K, Current Report, Filing Date Nov 2, 2015 |publisher=secdatabase.com |access-date =April 27, 2018}}</ref><ref>{{cite web|url=https://www.genengnews.com/topics/drug-discovery/zoetis-purchasing-pharmaq-for-765m/|title=Zoetis Purchasing PHARMAQ for $765M|date=3 November 2015}}</ref> In 2017, Zoetis acquired Ireland-based Nexvet, a company with a biologics focused technology and product candidate pipeline.<ref>{{cite news |last=Vinluan |first=Frank |date=13 Apr 2017 |title= Zoetis Builds on Biologics Pipeline with $85M Nexvet Acquisition|url=https://www.xconomy.com/new-york/2017/04/13/zoetis-builds-on-biologics-pipeline-with-85m-nexvet-acquisition/ |work= [[Xconomy]]|location=New York, NY, USA |access-date=9 Apr 2018 }}</ref> In the same year, the company also acquired KL Automation, a robotics company.<ref name=":2" />


In May 2018, the company announced its intention to acquire [[Abaxis]] for $1.9 billion in cash.<ref>{{cite web|url=https://uk.reuters.com/article/uk-abaxis-m-a-zoetis-idUKKCN1IH1DR|title=Zoetis to buy veterinary diagnostics firm Abaxis for $1.9 billion|date=16 May 2018|via=uk.reuters.com}}</ref><ref>{{Cite web |title=Zoetis concludes $2 billion acquisition of Abaxis |url=https://todaysveterinarybusiness.com/zoetis-concludes-2-billion-acquisition-of-abaxis/ |access-date=29 January 2024 |website=Today's Veterinary Business|date=August 2018 }}</ref>
In May 2018, the company announced its intention to acquire [[Abaxis]] for $1.9 billion in cash.<ref>{{cite web|url=https://uk.reuters.com/article/uk-abaxis-m-a-zoetis-idUKKCN1IH1DR|archive-url=https://web.archive.org/web/20190603023712/https://uk.reuters.com/article/uk-abaxis-m-a-zoetis-idUKKCN1IH1DR|url-status=dead|archive-date=3 June 2019|title=Zoetis to buy veterinary diagnostics firm Abaxis for $1.9 billion|date=16 May 2018|via=uk.reuters.com}}</ref><ref>{{Cite web |title=Zoetis concludes $2 billion acquisition of Abaxis |url=https://todaysveterinarybusiness.com/zoetis-concludes-2-billion-acquisition-of-abaxis/ |access-date=29 January 2024 |website=Today's Veterinary Business|date=August 2018 }}</ref>


In August 2021, Zoetis announced it would buy Jurox, increasing the business' presence in New Zealand, the US, Canada and the UK.<ref>{{cite web | url=https://www.biospace.com/article/releases/zoetis-to-acquire-jurox-a-leading-provider-and-manufacturer-of-livestock-and-companion-animal-products/?s=79 | title=Zoetis to Acquire Jurox, a Leading Provider and Manufacturer of Livestock and Companion Animal Products }}</ref>
In August 2021, Zoetis announced it would buy Jurox, increasing the business' presence in New Zealand, the US, Canada and the UK.<ref>{{cite web | url=https://www.biospace.com/article/releases/zoetis-to-acquire-jurox-a-leading-provider-and-manufacturer-of-livestock-and-companion-animal-products/?s=79 | title=Zoetis to Acquire Jurox, a Leading Provider and Manufacturer of Livestock and Companion Animal Products }}</ref>
In June 2022, Zoetis acquired Basepaws, a privately held genetics company.<ref> {{cite web |date=22 June 2022 |title=Zoetis Completes Acquisition of Basepaws, an Innovative Leader in Petcare Genetics, to Strengthen its Portfolio of Precision Animal Health Solutions |url=https://www.businesswire.com/news/home/20220621006057/en/Zoetis-Completes-Acquisition-of-Basepaws-an-Innovative-Leader-in-Petcare-Genetics-to-Strengthen-its-Portfolio-of-Precision-Animal-Health-Solutions |access-date=22 July 2022 |website=[[Business Wire]]}}</ref>
In June 2022, Zoetis acquired Basepaws, a privately held genetics company.<ref> {{cite web |date=22 June 2022 |title=Zoetis Completes Acquisition of Basepaws, an Innovative Leader in Petcare Genetics, to Strengthen its Portfolio of Precision Animal Health Solutions |url=https://www.businesswire.com/news/home/20220621006057/en/Zoetis-Completes-Acquisition-of-Basepaws-an-Innovative-Leader-in-Petcare-Genetics-to-Strengthen-its-Portfolio-of-Precision-Animal-Health-Solutions |access-date=22 July 2022 |website=[[Business Wire]]}}</ref>


In September 2023, Zoetis acquired Petmedix, a privately held Cambridge, UK-based company, to bring the benefits of species-specific antibody therapies to pet owners.<ref> {{cite web |date=September 2023 |title=PetMedix, a leader in discovering species-specific therapeutic antibodies for pets, announced that it has been acquired by Zoetis, the world's leading animal health company. |url=https://www.petmedix.com/petmedix-joins-zoetis-to-bring-the-benefits-of-species-specific-antibody-therapies-to-pet-owners/ |access-date=26 October 2023 }}</ref><ref>{{Cite web |title=Zoetis acquires PetMedix |url=https://www.petgazette.biz/210335-zoetis-acquires-petmedix/ |access-date=29 January 2024 |website=Pet Gazette}}</ref>
In September 2023, Zoetis acquired Petmedix, a privately held Cambridge, UK-based company, to bring the benefits of species-specific antibody therapies to pet owners.<ref> {{cite web |date=September 2023 |title=PetMedix, a leader in discovering species-specific therapeutic antibodies for pets, announced that it has been acquired by Zoetis, the world's leading animal health company. |url=https://www.petmedix.com/petmedix-joins-zoetis-to-bring-the-benefits-of-species-specific-antibody-therapies-to-pet-owners/ |access-date=26 October 2023 }}</ref><ref>{{Cite web |title=Zoetis acquires PetMedix |url=https://www.petgazette.biz/210335-zoetis-acquires-petmedix/ |access-date=29 January 2024 |website=Pet Gazette}}</ref>


== Products ==
== 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.
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:<ref>[https://animalhealth.pfizer.com/sites/PAHWeb/US/EN/Products/Pages/ProductsLanding.aspx Pfizer Animal Health Products] {{webarchive |url=https://web.archive.org/web/20120722105606/https://animalhealth.pfizer.com/sites/PAHWeb/US/EN/Products/Pages/ProductsLanding.aspx |date=22 July 2012 }}</ref><ref>{{Cite journal |last=Zoetis |date=8 September 2023 |title=Zoetis Welcomes Officials to Open New State-of-the-Art Facility in Lincoln |url= |journal=Business Wire (English)}}</ref>
Zoetis products include:<ref>[https://animalhealth.pfizer.com/sites/PAHWeb/US/EN/Products/Pages/ProductsLanding.aspx Pfizer Animal Health Products] {{webarchive |url=https://web.archive.org/web/20120722105606/https://animalhealth.pfizer.com/sites/PAHWeb/US/EN/Products/Pages/ProductsLanding.aspx |date=22 July 2012 }}</ref><ref>{{Cite journal |last=Zoetis |date=8 September 2023 |title=Zoetis Welcomes Officials to Open New State-of-the-Art Facility in Lincoln |url= |journal=Business Wire (English)}}</ref>


Latest revision as of 07:05, 27 November 2024

Zoetis Inc.
Company typePublic
IndustryPharmaceutical
Founded1952; 72 years ago (1952)
HeadquartersParsippany, New Jersey, U.S.
Area served
Worldwide
Key people
RevenueIncrease US$8.54 billion (2023)
Increase US$3.02 billion (2023)
Increase US$2.34 billion (2023)
Total assetsDecrease US$14.3 billion (2023)
Total equityIncrease US$4.99 billion (2023)
Number of employees
c. 14,100 (2023)
Websitezoetis.com
Footnotes / references
[2][3]

Zoetis Inc. (/zō-EH-tis/[4]) is an American drug company, the world's largest producer of medicine and vaccinations for pets and livestock.[5][4][6] The company was a subsidiary of Pfizer,[7] 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 its products in approximately 45 countries, and sells them in more than 100 countries.[8] 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.[9]

History

[edit]

1950s to 2000s

[edit]
Zoetis building in Exton, PA

In the 1950s, Pfizer began research on several drugs, including oxytetracycline, which was found to be effective in livestock.[10] In 1952, the Pfizer Agriculture Division opened a 732-acre research and development facility in Terre Haute, Indiana, called Vigo.[10][11] By 1988 the division was renamed Pfizer Animal Health.[10]

The 1995 acquisition of Norden Laboratories from GlaxoSmithKline expanded Pfizer's animal health division into small animal care, including domestic pets.[10] Secondary research and development centres were opened in Kalamazoo, Michigan, in 2003.[10] In the same year, Pfizer acquired Pharmacia Corporation for US$60 billion in stock options.[12] 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.[10]

2010s to present

[edit]

Plans to break away Pfizer Animal Health into a separate company were officially announced in 2012.[13][4] The new firm was named Zoetis in allusion to the Latin-derived zoological term zoetic, meaning "pertaining to life".[4][7]

Zoetis Inc.'s revenues exceeded $4.2 billion in 2011 and $4.34 billion in 2012.[14][15][4] The animal health industry worldwide is an estimated US$22 billion industry.[4]

On May 22, 2013, The Wall Street Journal reported that Pfizer planned to sell its majority stake in the company.[15] According to the report, shareholders would have the option to swap their Pfizer shares for Zoetis shares.[15] The sell-off of Zoetis was consistent with Pfizer's recent decision to shed other non-pharmaceutical subsidiaries in an effort 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 would be the lead underwriters.[16][15]

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.[17] On 17 November, the company announced it would acquire a portfolio of pet drugs from Abbott Laboratories for approximately $255 million.[18]

2012: IPO

[edit]

Records show that Pfizer officially filed for registration of a Class A stock with the U.S. Securities and Exchange Commission on August 10, 2012.[10][19] Zoetis' IPO on February 1, 2013 sold 86.1 million shares for US$ 2.2 billion.[20] 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 May 18, 2012.[21] Pfizer retained 414 million Class B shares giving it an 83% controlling stake in the firm.[22][3] 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.[20] Most of the money raised through the IPO was used to pay off existing Pfizer debt.[4]

Acquisitions

[edit]

In November 2015, the company announced it would acquire a developer of aquaculture treatments and diseases, Pharmaq, for $765 million.[23][24] In 2017, Zoetis acquired Ireland-based Nexvet, a company with a biologics focused technology and product candidate pipeline.[25] In the same year, the company also acquired KL Automation, a robotics company.[8]

In May 2018, the company announced its intention to acquire Abaxis for $1.9 billion in cash.[26][27]

In August 2021, Zoetis announced it would buy Jurox, increasing the business' presence in New Zealand, the US, Canada and the UK.[28] In June 2022, Zoetis acquired Basepaws, a privately held genetics company.[29]

In September 2023, Zoetis acquired Petmedix, a privately held Cambridge, UK-based company, to bring the benefits of species-specific antibody therapies to pet owners.[30][31]

Products

[edit]

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:[32][33]

Recognition

[edit]
  • As of October 2023, Zoetis had been named by Seramount in their list of 100 Best Companies for Working Parents, for ten years in a row.[34]
  • As of July 2023, Zoetis was named in Fast Company's list as one of the Best Workplaces for Innovators.[35]
  • As of January 2024, Zoetis was honored at the 2024 Catalyst Award Conference for its efforts to catalyze diversity, equality, and inclusion.[36][37]

Charitable work

[edit]

In 2021 Zoetis established the Zoetis Foundation, a non-profit entity aimed at supporting communities and individual who care for animals with a goal of distributing $35 million in grants by the end of 2025. So far, the Foundation has distributed approximately $14.7 million in grants across 2021-2023.[38] The grants have been allocated towards causes including advancing opportunities for veterinary professionals[39][40][41] and farmers,[42] providing support to those affected by the Russian invasion of Ukraine, matching gifts programs, and delivering relief to those impacted by the earthquake in the Republic of Türkiye.[38]

References

[edit]
  1. ^ Zoetis (7 October 2023). "Zoetis Announces Appointment of Ester Banque as President of U.S. Operations for World Leader in Animal Health". Business Wire. Retrieved 15 November 2023.
  2. ^ "Zoetis Inc. 2023 Annual Report Form (10-K)". U.S. Securities and Exchange Commission. 13 February 2024. Retrieved 15 February 2024.
  3. ^ a b DIETERICH, CHRIS (31 January 2013). "Zoetis Raises $2.2 Billion in IPO - WSJ.com". The Wall Street Journal. New York. Retrieved 1 February 2013.
  4. ^ a b c d e f g h i "Shares of animal health company Zoetis soar in IPO". CBS News. New York. 1 February 2013. Retrieved 1 February 2013.
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  9. ^ Volkman, Eric (17 June 2013). "Zoetis to Join S&P 500; First Horizon National, QLogic Moved to New Indices -". The Motley Fool.
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  21. ^ "Facebook, Form 424B4, Filing Date May 18, 2012". secdatabase.com. Retrieved 27 April 2018.
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  23. ^ "Zoetis, Form 8-K, Current Report, Filing Date Nov 2, 2015". secdatabase.com. Retrieved 27 April 2018.
  24. ^ "Zoetis Purchasing PHARMAQ for $765M". 3 November 2015.
  25. ^ Vinluan, Frank (13 April 2017). "Zoetis Builds on Biologics Pipeline with $85M Nexvet Acquisition". Xconomy. New York, NY, USA. Retrieved 9 April 2018.
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  27. ^ "Zoetis concludes $2 billion acquisition of Abaxis". Today's Veterinary Business. August 2018. Retrieved 29 January 2024.
  28. ^ "Zoetis to Acquire Jurox, a Leading Provider and Manufacturer of Livestock and Companion Animal Products".
  29. ^ "Zoetis Completes Acquisition of Basepaws, an Innovative Leader in Petcare Genetics, to Strengthen its Portfolio of Precision Animal Health Solutions". Business Wire. 22 June 2022. Retrieved 22 July 2022.
  30. ^ "PetMedix, a leader in discovering species-specific therapeutic antibodies for pets, announced that it has been acquired by Zoetis, the world's leading animal health company". September 2023. Retrieved 26 October 2023.
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  33. ^ Zoetis (8 September 2023). "Zoetis Welcomes Officials to Open New State-of-the-Art Facility in Lincoln". Business Wire (English).
  34. ^ Zoetis Inc. (10 October 2023). "Zoetis Named a 100 Best Company for Working Parents by Seramount". Business Wire (English).
  35. ^ Zoetis Inc. (12 July 2023). "Zoetis Named One of the Best Workplaces for Innovators by Fast Company". Business Wire (English).
  36. ^ "Sephora, Zoetis Win 2024 Catalyst Award for Inclusive Workplaces". The Global Woman Leader. Retrieved 29 January 2024.
  37. ^ "2024 Catalyst Award Winners to Be Honored at Annual Gender Equity Conference and Dinner". Catalyst. Retrieved 29 January 2024.
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  39. ^ "Zoetis Foundation awards $2.6M to advance opportunities for veterinarians". www.nationalhogfarmer.com. Retrieved 15 November 2023.
  40. ^ "Veterinary technician student scholarship deadline approaching". American Veterinary Medical Association. 25 September 2023. Retrieved 15 November 2023.
  41. ^ Vet Practice (3 September 2023). "AVA receives funding to help improve mental health of Australian vets". Vet Practice Magazine. Retrieved 15 November 2023.
  42. ^ "Zoetis Foundation pledges $5.3M for first round 2023 grants". www.nationalhogfarmer.com. Retrieved 15 November 2023.
[edit]
  • Official website
  • Business data for Zoetis:
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