Zoetis Inc. (ZTS)

Zoetis Inc. is a global animal health company that discovers, develops, manufactures and commercializes medicines, vaccines, diagnostic products and services, biodevices, genetic tests and precision animal health. It has a legacy of nearly 75 years, was incorporated in Delaware in July 2012, and was previously a business unit of Pfizer Inc. Its products serve eight core species: dogs, cats and horses (companion animals) and cattle, swine, poultry, fish and sheep (livestock).

The company operates in two segments: the United States, with revenue of $5,097 million (54% of 2025 total revenue), and International, with $4,254 million (45%). Each segment offers a diversified portfolio for companion animal and livestock customers. Its Client Supply Services organization, which provides contract manufacturing to third parties, and its human health diagnostics products together made up about 1% of revenue. Zoetis has roughly 300 product lines across seven major categories: parasiticides, vaccines, dermatology, anti-infectives, pain and sedation, other pharmaceutical, and animal health diagnostics. Smaller revenue comes from nutritionals, biodevices, genetic testing and precision animal health. Key brands include Simparica/Simparica Trio and Apoquel (about 16% and 12% of 2025 revenue), Cytopoint, Librela, Solensia, the ceftiofur line, Revolution/Stronghold, ProHeart, Vanguard/Versican, Draxxin, and the Fostera/Suvaxyn and Poulvac vaccine lines. The five top-selling product lines contributed about 42% of revenue and the top ten about 57%. Diagnostics include the Vetscan instruments and the AI-enabled Vetscan Imagyst platform, and the Pharmaq business leads in aquatic health vaccines. The company divested its medicated feed additive portfolio in October 2024.

Companion animal products were about 70% of 2025 revenue and livestock products about 29%. The U.S. is 83% companion animal, while International is 56% companion animal and 44% livestock. Key international markets include Australia, Brazil, Canada, Chile, China, France, Germany, Italy, Japan, Mexico, Spain and the United Kingdom, with mixes that vary widely, such as Brazil and Chile being mostly livestock. Customers range from veterinarians and pet owners to livestock producers. The company cites regional differences in economics, culture, epidemiology, treatment practices, environment and regulation as the reason for its segment structure.

Growth is pursued through R&D on new chemical, biopharmaceutical and biological entities and through product lifecycle innovation, such as new claims, species, formulations and geographies. Zoetis has also grown through acquisitions, including Abaxis (2018), Jurox and Basepaws (2022), PetMedix and adivo (2023), and Veterinary Pathology Group (2025), and runs research collaborations with Colorado State University and Blacksmith Medicines. Its principal executive offices are at 10 Sylvan Way, Parsippany, New Jersey.