Zoetis cracks $5 billion in annual sales
The animal health company predicts 2018 revenue of up to $5.8 billion.
Animal vaccine and drug maker Zoetis Inc. achieved a milestone in 2017 with sales of $5.3 billion, an increase of 9 percent from the year before, the company reported Feb. 15.
“In 2017, Zoetis became the first animal health company to deliver more than $5 billion in revenue as we continued to demonstrate the strength of our business model and the growth opportunities that are uniquely available in animal health,” CEO Juan Ramón Alaix said.
Fourth-quarter sales jumped by 14 percent, to $1.5 billion, from the same period in 2016.
Net income was $81 million in the fourth quarter and $864 million for the year, a rise of 5 percent.
The Parsippany, New Jersey, company forecast 2018 revenue of $5.675 billion to $5.8 billion.
Zoetis’ financial report also revealed:
- U.S. fourth-quarter revenue of $712 million, an increase of 13 percent compared with the fourth quarter of 2016.
- A 15 percent jump in fourth-quarter sales of companion animal products. Zoetis pointed to increased sales “in our dermatology portfolio and several other new products, including Simparica (sarolaner), our oral parasiticide.”
- An 11 percent increase in fourth-quarter sales of livestock products. “Consistent with the year, both cattle and swine products were negatively impacted by livestock producers’ continued implementation of the Veterinary Feed Directive,” the company noted.
- International fourth-quarter revenue of $740 million, an increase of 16 percent. “Zoetis continued to expand the availability of … Simparica into new markets, with additional approvals in Chile, Panama, the Philippines and Switzerland,” the company stated. “The product also received approval in the European Union for the treatment of two additional types of skin mites.”