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== Charitable Work ==
== Charitable Work ==
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 2021-2022. The grants have been allocated towards causes including advancing opportunities for veterinary professionals and farmers, providing support to those affected by the war in Ukraine, matching gifts programs, and delivering relief to those impacted by the earthquake in the Republic of Türkiye.<ref>{{Cite journal |last=Zoetis Inc. |date=September 2023 |title=Zoetis Foundation Announces $2.6 Million in Grants to Advance Opportunities for Veterinarians and Livestock Farmers |url= |journal=Business Wire (English)}}</ref>
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. The grants have been allocated towards causes including advancing opportunities for veterinary professionals<ref>{{Cite web |title=Zoetis Foundation awards $2.6M to advance opportunities for veterinarians |url=https://www.nationalhogfarmer.com/livestock-management/zoetis-foundation-awards-2-6m-to-advance-opportunities-for-veterinarians |access-date=2023-11-15 |website=www.nationalhogfarmer.com |language=en}}</ref><ref>{{Cite web |title=Veterinary technician student scholarship deadline approaching |url=https://www.avma.org/blog/veterinary-technician-student-scholarship-deadline-approaching |access-date=2023-11-15 |website=American Veterinary Medical Association |language=en}}</ref><ref>{{Cite web |last=Vet Practice |date=2023-09-03 |title=AVA receives funding to help improve mental health of Australian vets |url=https://www.vetpracticemag.com.au/ava-receives-funding-to-help-improve-mental-health-of-australian-vets/ |access-date=2023-11-15 |website=Vet Practice Magazine |language=en-AU}}</ref> and farmers,<ref>{{Cite web |title=Zoetis Foundation pledges $5.3M for first round 2023 grants |url=https://www.nationalhogfarmer.com/market-news/zoetis-foundation-pledges-5-3m-for-first-round-2023-grants |access-date=2023-11-15 |website=www.nationalhogfarmer.com |language=en}}</ref> providing support to those affected by the war in Ukraine, matching gifts programs, and delivering relief to those impacted by the earthquake in the Republic of Türkiye.<ref>{{Cite journal |last=Zoetis Inc. |date=September 2023 |title=Zoetis Foundation Announces $2.6 Million in Grants to Advance Opportunities for Veterinarians and Livestock Farmers |url= |journal=Business Wire (English)}}</ref>


== References ==
== References ==

Revision as of 09:54, 15 November 2023

Zoetis Inc.
Company typePublic
IndustryPharmaceutical
Founded1952; 72 years ago (1952)
HeadquartersParsippany, New Jersey, U.S.
Area served
Worldwide
Key people
Kristin Peck (CEO)
Ester Banque (Executive Vice President)[1]
RevenueIncrease US$8.08 billion (2022)
Increase US$2.92 billion (2022)
Increase US$2.11 billion (2022)
Total assetsIncrease US$14.9 billion (2022)
Total equityDecrease US$4.41 billion (2022)
Number of employees
c. 13,800 (Dec 2022)
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. 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.[8]

History

1950s to 2000s

Zoetis building in Exton, PA

In the 1950s, Pfizer began research on several drugs, including oxytetracycline, which was found to be effective in livestock.[9] In 1952, the Pfizer Agriculture Division opened a 732-acre research and development facility in Terre Haute, Indiana, called Vigo.[9][10] By 1988 the division was renamed Pfizer Animal Health.[9]

The 1995 acquisition of Norden Laboratories from GlaxoSmithKline expanded Pfizer's animal health division into small animal care, including domestic pets.[9] Secondary research and development centres were opened in Kalamazoo, Michigan, in 2003.[9] In the same year, Pfizer acquired Pharmacia Corporation for US$60 billion in stock options.[11] 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.[9]

2010s to present

Plans to break away Pfizer Animal Health into a separate company were officially announced in 2012.[12][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.[13][14][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.[14] According to the report, shareholders will have the option to swap their Pfizer shares for Zoetis shares.[14] 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.[15][14]

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

2012: IPO

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.[9][18] Zoetis' IPO on February 1, 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 May 18, 2012.[20] Pfizer retained 414 million Class B shares giving it an 83% controlling stake in the firm.[21][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.[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 a developer of aquaculture treatments and diseases, 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 August 2021, Zoetis announced it would buy Jurox, increasing the business' presence in New Zealand, the US, Canada and the UK.[26] In June 2022, Zoetis acquired Basepaws, a privately held genetics company, to strengthen its portfolio of precision animal health solutions.[27]

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.[28]

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:[29][30]

Awards and Commendations

  • 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.[31]
  • As of July 2023 Zoetis was named in Fast Company's list as one of the Best Workplaces for Innovators.[32]

Charitable Work

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. The grants have been allocated towards causes including advancing opportunities for veterinary professionals[33][34][35] and farmers,[36] providing support to those affected by the war in Ukraine, matching gifts programs, and delivering relief to those impacted by the earthquake in the Republic of Türkiye.[37]

References

  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. {{cite news}}: |access-date= requires |url= (help)
  2. ^ "Zoetis Inc. 2022 Annual Report Form (10-K)". U.S. Securities and Exchange Commission. 14 February 2023. Retrieved 14 February 2023.
  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.
  5. ^ a b "Zoetis Inc, Form 10-K, Annual Report, Filing Date Feb 15, 2018" (PDF). secdatabase.com. Retrieved 26 April 2018.
  6. ^ "Zoetis raises about $2.2 billion in IPO". The Associated Press. New York: Yahoo!. 1 February 2013. Retrieved 1 February 2013.
  7. ^ a b DRIP Investor (October 2018). "Taking Care Of Animals Pays For Zoetis". DRIP Investor. 27 (10). Horizon Publishing Co.: 7–7.
  8. ^ Volkman, Eric (17 June 2013). "Zoetis to Join S&P 500; First Horizon National, QLogic Moved to New Indices -". The Motley Fool.
  9. ^ 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.
  10. ^ "Pfizer Buys 732 Acre Vigo Chemical Plant". Chicago Daily Tribune. 17 July 1958. p. 1. Retrieved 2 February 2013.
  11. ^ Frank, Robert; Hensley, Scott (15 July 2002). "Pfizer to Buy Pharmacia For $60 Billion in Stock". The Wall Street Journal. Retrieved 2 February 2013.
  12. ^ "Zoetis Inc, Form S-1/A, Filing Date Oct 11, 2012". secdatabase.com. Retrieved 26 April 2018.
  13. ^ "Zoetis Inc, Form 10-K, Annual Report, Filing Date Mar 28, 2013" (PDF). secdatabase.com. Retrieved 26 April 2018.
  14. ^ a b c d Loftus, Peter (22 May 2013). "Pfizer to Spin Off Remaining Zoetis Stake". The Wall Street Journal. Retrieved 27 May 2013.
  15. ^ "Zoetis Inc, Form 425, Filing Date May 23, 2013" (PDF). secdatabase.com. Retrieved 26 April 2018.
  16. ^ Chen, Caroline (11 November 2014). "Ackman's Pershing Square Takes Stake in Drugmaker Zoetis". Bloomberg.
  17. ^ "Zoetis Inc, Form 8-K, Current Report, Filing Date Nov 17, 2014". secdatabase.com. Retrieved 26 April 2018.
  18. ^ "Zoetis Inc, Form S-1/A, Filing Date Jan 29, 2013". secdatabase.com. Retrieved 26 April 2018.
  19. ^ 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.
  20. ^ "Facebook, Form 424B4, Filing Date May 18, 2012". secdatabase.com. Retrieved 27 April 2018.
  21. ^ "Zoetis, Form S-1/A, Filing Date Jan 29, 2013". secdatabase.com. Retrieved 27 April 2018.
  22. ^ "Zoetis, Form 8-K, Current Report, Filing Date Nov 2, 2015". secdatabase.com. Retrieved 27 April 2018.
  23. ^ "Zoetis Purchasing PHARMAQ for $765M". 3 November 2015.
  24. ^ Vinluan, Frank (13 April 2017). "Zoetis Builds on Biologics Pipeline with $85M Nexvet Acquisition". Xconomy. New York, NY, USA. Retrieved 9 April 2018.
  25. ^ "Zoetis to buy veterinary diagnostics firm Abaxis for $1.9 billion". 16 May 2018 – via uk.reuters.com.
  26. ^ "Zoetis to Acquire Jurox, a Leading Provider and Manufacturer of Livestock and Companion Animal Products".
  27. ^ "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.
  28. ^ "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.
  29. ^ Pfizer Animal Health Products Archived 22 July 2012 at the Wayback Machine
  30. ^ Zoetis (8 September 2023). "Zoetis Welcomes Officials to Open New State-of-the-Art Facility in Lincoln". Business Wire (English).
  31. ^ Zoetis Inc. (10 October 2023). "Zoetis Named a 100 Best Company for Working Parents by Seramount". Business Wire (English).
  32. ^ Zoetis Inc. (12 July 2023). "Zoetis Named One of the Best Workplaces for Innovators by Fast Company". Business Wire (English).
  33. ^ "Zoetis Foundation awards $2.6M to advance opportunities for veterinarians". www.nationalhogfarmer.com. Retrieved 15 November 2023.
  34. ^ "Veterinary technician student scholarship deadline approaching". American Veterinary Medical Association. Retrieved 15 November 2023.
  35. ^ Vet Practice (3 September 2023). "AVA receives funding to help improve mental health of Australian vets". Vet Practice Magazine. Retrieved 15 November 2023.
  36. ^ "Zoetis Foundation pledges $5.3M for first round 2023 grants". www.nationalhogfarmer.com. Retrieved 15 November 2023.
  37. ^ Zoetis Inc. (September 2023). "Zoetis Foundation Announces $2.6 Million in Grants to Advance Opportunities for Veterinarians and Livestock Farmers". Business Wire (English).
  • Official website
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