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Zoetis Inc.
Traded as
Founded1952 (1952)
HeadquartersParsippany, New Jersey, U.S.[1]
Area served
Key people
Juan Ramon Alaix (CEO)
RevenueIncrease US$5,307 million (2017)
Increase US$1,525 million (2017)
Increase US$864 million (2017)
Total assetsIncrease US$8,586 million (2017)
Total equityIncrease US$1,770 million (2017)
Number of employees
Increase 9,200 (2017)
Footnotes / references

Zoetis Inc. (/zō-EH-tis/[3]) is the world's largest producer of medicine and vaccinations for pets and livestock.[4][3][5] 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.[4] 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.[6]


1950s to 2000s[edit]

Zoetis building in Exton, PA

In the 1950s, Pfizer began research on several drugs including Oxytetracycline.[7] John McKeen, a chemical engineer with Pfizer products, discovered its effective use in livestock. In 1952, the Pfizer Agriculture Division opened a 732-acre research and development facility in Terre Haute, Indiana called Vigo.[7][8] By 1988 the division was renamed Pfizer Animal Health.[7]

The acquisition of GlaxoSmithKline’s Norden Laboratories in 1995 boosted Pfizer's animal health division into small animal care including domestic pets.[7] Secondary research and development centres were opened in Kalamazoo, Michigan in 2003.[7] In the same year, Pfizer acquired Pharmacia Corporation for US$ 60 billion in stock options.[9] 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.[7] These acquisitions greatly increased Pfizer's market, range of products, countries it operated in, and resources.

2010s to present[edit]

Plans to break away Pfizer Animal Health into a separate company were officially announced in 2012.[10][3] The name chosen, Zoetis, roughly translates from the derived Latin zoological word zoetic, meaning 'pertaining to life'.[3]

Zoetis Inc.'s revenues exceeded $4.2 billion in 2011 and $4.34 billion in 2012.[11][12][3] The animal health industry worldwide is an estimated US$22 billion dollar industry.[3]

On 22 May 2013, The Wall Street Journal reported that Pfizer plans to sell its majority stake in the company.[12] According to the report, shareholders will have the option to swap their Pfizer shares for Zoetis shares.[12] 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, Goldman Sachs & Co., and Morgan Stanley will be the lead underwriters.[13][12]

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.[14] On 17 November, the company announced it would acquire a portfolio of pet drugs from Abbott Laboratories for approximately $255 million.[15]

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 10 August 2012.[7][16] Zoetis' IPO on 1 February 2013 sold 86.1 million shares for US$ 2.2 billion.[17] Shares sharply rose 19% by the end of the trading day to $35.01 a share, up from $26.[3] At the time, it was the largest IPO from a U.S. company since Facebook's $16 billion IPO on 18 May 2012.[18] Pfizer retained 414 million Class B shares giving it an 83% controlling stake in the firm.[19][1] Stock investors were attracted to the steep profit margin in proportion to revenue and consumer confidence in potential future growth of the subsidiary.[3] The offering's lead underwriters were JPMorgan Chase, Bank of America Merrill Lynch and Morgan Stanley.[17] Most of the money raised through the IPO was used to pay off existing Pfizer debt.[3]


In November 2015, the company announced it would acquire developer of aquaculture treatments and diseases, Pharmaq, for $765 million.[20][21] In 2017, Zoetis acquired Ireland-based Nexvet, a company with a biologics focused technology and product candidate pipeline.[22]

In May 2018, the company announced its intention to acquire Abaxis for $1.9 billion in cash.[23]


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:[24]


  1. ^ 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.
  2. ^ "Zoetis Inc. 2017 Annual Report Form (10-K)". U.S. Securities and Exchange Commission. February 15, 2018. Retrieved September 29, 2018.
  3. ^ 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.
  4. ^ a b "Zoetis Inc, Form 10-K, Annual Report, Filing Date Feb 15, 2018" (PDF). secdatabase.com. Retrieved Apr 26, 2018.
  5. ^ "Zoetis raises about $2.2 billion in IPO". The Associated Press. New York: Yahoo!. 1 February 2013. Retrieved 1 February 2013.
  6. ^ Zoetis to join S&P 500
  7. ^ a b c d e f g "Form S-1". WASHINGTON, D.C: U.S. Securities and Exchange Commission. 10 August 2012. Retrieved 2 February 2013.
  8. ^ "Pfizer Buys 732 Acre Vigo Chemical Plant". Chicago Daily Tribune. 17 Jul 1958. p. 1. Retrieved 2 February 2013.
  9. ^ Frank, Robert; Hensley, Scott (15 July 2002). "Pfizer to Buy Pharmacia For $60 Billion in Stock". The Wall Street Journal. Retrieved 2 February 2013.
  10. ^ "Zoetis Inc, Form S-1/A, Filing Date Oct 11, 2012". secdatabase.com. Retrieved Apr 26, 2018.
  11. ^ "Zoetis Inc, Form 10-K, Annual Report, Filing Date Mar 28, 2013" (PDF). secdatabase.com. Retrieved Apr 26, 2018.
  12. ^ a b c d Loftus, Peter (22 May 2013). "Pfizer to Spin Off Remaining Zoetis Stake". The Wall Street Journal. Retrieved 27 May 2013.
  13. ^ "Zoetis Inc, Form 425, Filing Date May 23, 2013" (PDF). secdatabase.com. Retrieved Apr 26, 2018.
  14. ^ Chen, Caroline (11 November 2014). "Ackman's Pershing Square Takes Stake in Drugmaker Zoetis". Bloomberg.
  15. ^ "Zoetis Inc, Form 8-K, Current Report, Filing Date Nov 17, 2014". secdatabase.com. Retrieved Apr 26, 2018.
  16. ^ "Zoetis Inc, Form S-1/A, Filing Date Jan 29, 2013". secdatabase.com. Retrieved Apr 26, 2018.
  17. ^ a b J. DE LA MERCED, MICHAEL (1 February 2013). "Shares of Zoetis Surge on Debut". New York Times. New York. Retrieved 1 February 2013.
  18. ^ "Facebook, Form 424B4, Filing Date May 18, 2012". secdatabase.com. Retrieved Apr 27, 2018.
  19. ^ "Zoetis, Form S-1/A, Filing Date Jan 29, 2013". secdatabase.com. Retrieved Apr 27, 2018.
  20. ^ "Zoetis, Form 8-K, Current Report, Filing Date Nov 2, 2015". secdatabase.com. Retrieved Apr 27, 2018.
  21. ^ http://www.genengnews.com/gen-news-highlights/zoetis-purchasing-pharmaq-for-765m/81251930/
  22. ^ Vinluan, Frank (13 Apr 2017). "Zoetis Builds on Biologics Pipeline with $85M Nexvet Acquisition". Xconomy. New York, NY, USA. Retrieved 9 Apr 2018.
  23. ^ https://uk.reuters.com/article/uk-abaxis-m-a-zoetis/zoetis-to-buy-veterinary-diagnostics-firm-abaxis-for-1-9-billion-idUKKCN1IH1DR
  24. ^ Pfizer Animal Health Products Archived 22 July 2012 at the Wayback Machine.

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