Zoetis, formerly the animal health business unit of Pfizer Inc., made its first appearance at VIV Asia in 2013.
In July 2013, Zoetis finalized its separation from Pfizer and became a fully independent animal health company. Pfizer accepted shares of Pfizer stock in exchange for all of its 400,985,000 shares of Zoetis common stock. After Pfizer's acceptance of shares of Pfizer common stock, Pfizer no longer held any ownership interest in Zoetis, making Zoetis a fully independent company.
In February 2015, Zoetis reported its net income for the fourth quarter of 2014 was $126 million, an increase of 20 percent when compared to the fourth quarter of 2013. Adjusted net income for the fourth quarter of 2014 was $203 million.
However, in May 2015, Zoetis reported flat revenue in the first quarter of 2015, and announced a comprehensive operational efficiency initiative to enhance its long-term competitive position and profitability, which included slashing $300 million in annual costs by 2017 and cutting at least 20 percent of its workforce. Zoetis said it would close 10 manufacturing plants, eliminate layers of management and abandon some of its 300 product lines that weren’t performing well. However, the company said it would not cut back on its sales force or large U.S. plants.
Zoetis has recently made some moves internationally. In November 2015, the company held a ribbon-cutting ceremony to celebrate the completion of its new global production and supply facility in Suzhou, China.
And, this month, Indian drug company Zydus Cadila said it would acquire select animal health brands and a manufacturing unit from Zoetis. One news outlet reported the deal at $29 million.
Zoetis, formerly the animal health business unit of Pfizer Inc., will make its first appearance at VIV Asia. Zoetis retains all of the poultry products that were available from Pfizer Animal Health, including its vaccines, medicinal animal feed additives, diagnostics and industry-leading BioDevices, and will continue to research and develop new products and services.