Zoetis – Wikipedia

American animal health company

Zoetis Inc. ( /zō-EH-tis/ [ 3 ] ) is an american drug ship’s company, the worldly concern ‘s largest manufacturer of medicine and vaccinations for pets and livestock. [ 4 ] [ 3 ] [ 5 ] The company was a auxiliary of Pfizer, the world ‘s largest drug manufacturer, but with Pfizer ‘s spinoff of its 83 % pastime in the firm it is nowadays a wholly mugwump 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 full tax income. [ 4 ] coetaneous 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 breed commercialize index. [ 6 ]

history [edit ]

1950s to 2000s [edit ]

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In the 1950s, Pfizer began research on several drugs, including oxytetracycline, which was found to be effective in livestock. [ 7 ] 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 1995 acquisition of Norden Laboratories from GlaxoSmithKline expanded Pfizer ‘s animal health division into little animal wish, including domestic pets. [ 7 ] Secondary research and growth 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 caller acquired Embrex Inc, Catapult Genetics, Bovigen, Wyeth, Fort Dodge Animal Health, Vetnex Animal Health Ltd, Synbiotics Corporation, Microtek, King Pharmaceuticals, and Alpharma. [ 7 ]

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2010s to present [edit ]

Plans to break away Pfizer Animal Health into a classify ship’s company were officially announced in 2012. [ 10 ] [ 3 ] The new firm was named Zoetis in allusion to the Latin-derived zoological term 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 cosmopolitan is an calculate US $ 22 billion industry. [ 3 ] On May 22, 2013, The Wall Street Journal reported that Pfizer planned to sell its majority impale in the company. [ 12 ] According to the report, shareholders will have the choice to swap their Pfizer shares for Zoetis shares. [ 12 ] The sell-off of Zoetis is consistent with Pfizer ‘s recent decisiveness to shed other non-pharmaceuticals subsidiaries in an campaign 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, militant 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 ]

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2012 : initial public offering [edit ]

Records show that Pfizer formally filed for registration of a classify A stock with the U.S. Securities and Exchange Commission on August 10, 2012. [ 7 ] [ 16 ] Zoetis ‘ IPO on February 1, 2013 sold 86.1 million shares for US $ 2.2 billion. [ 17 ] Shares sharply rose 19 % by the end of the deal day to $ 35.01 a partake, up from $ 26. [ 3 ] At the time, it was the largest initial public offering from a U.S. party since Facebook ‘s $ 16 billion IPO on May 18, 2012. [ 18 ] Pfizer retained 414 million Class B shares giving it an 83 % controlling post in the firm. [ 19 ] [ 1 ] Stock investors were attracted to the exorbitant profit margin in proportion to tax income and consumer confidence in electric potential future growth of the subsidiary company. [ 3 ] The extend ‘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 ]

Acquisitions [edit ]

In November 2015, the company announced it would acquire a 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 engineering and product candidate pipeline. [ 22 ] In May 2018, the company announced its intention to acquire Abaxis for $ 1.9 billion in cash. [ 23 ] In August 2021, Zoetis announced it would buy Jurox, increasing the business ‘ presence in New Zealand, the US, Canada and the UK. [ 24 ]

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Products [edit ]

twenty-eight sites in 11 countries make up Zoetis fabrication network, each adeptness designed to meet chemical and infectious agentive role safety regulative requirements. Many R & D operations are co-located with fabrication sites, a collaboration that allows bringing fresh products to market faster. Zoetis builds on six-decade Pfizer history and aims for high technical school advanced fabrication technologies. Zoetis products include : [ 25 ]

References [edit ]

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