Welcome to our dedicated page for ZOETIS news (Ticker: $ZTS), a resource for investors and traders seeking the latest updates and insights on ZOETIS stock.
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Zoetis Inc. (NYSE:ZTS) reported a successful first quarter of 2024 with revenue of $2.2 billion, a 10% increase YoY. Net income was $599 million, or $1.31 per diluted share, up 9% and 10%, respectively. Adjusted net income was $634 million, or $1.38 per diluted share. The company updated its full-year 2024 revenue guidance to $9.050 - $9.200 billion, showing operational revenue growth of 8.5% to 10.5%. Zoetis continues to invest in innovation and growth, expanding product franchises globally.
Zoetis Inc. (NYSE:ZTS) has entered into a definitive agreement with Phibro Animal Health (Nasdaq: PAHC), where the latter will acquire Zoetis’ medicated feed additive (MFA) product portfolio, certain water soluble products, and related assets for $350 million, subject to customary closing adjustments. This transaction is expected to be complete in the second half of calendar year 2024. The portfolio, generating approximately $400 million in revenue in 2023, comprises more than 37 product lines sold in around 80 countries, spanning across six manufacturing sites. More than 300 Zoetis colleagues will transition to Phibro Animal Health. The divestiture allows Zoetis to focus its livestock investments in other areas, such as vaccine, biologic, and genetic programs. The acquisition is expected to boost Phibro Animal Health’s sales and profitability significantly.