Zoetis Inc (ZTS) Stock Research Report

The medicine in your dog's bowl

If you have a dog, there is a fair chance that once a month it eats a small chewable tablet that keeps fleas, ticks and worms away. When it grows old and stiff, the vet may give it an injection that eases the pain in its joints.

Many of these medicines come from Zoetis. So do many of the vaccines that protect cattle, pigs and chickens on farms. Few pet owners give the company a thought as they leave the clinic.

Lately, though, Zoetis has been selling fewer pet medicines in the United States. Cheaper copies of two of its older drugs have reached the market. New rivals have arrived as well. Abroad and on farms, sales are still growing, so the company as a whole is holding steady.

Is this a passing setback, or the start of a lasting change?

What the Company Does

Zoetis makes medicines, vaccines and diagnostic tests for animals, from dogs and cats to horses, cattle, pigs, poultry, sheep and fish. It sells them to veterinarians, livestock farmers and the distributors who supply them, in more than 100 countries. Pets bring in about 70% of the company's revenue. Customers in the United States bring in about 54%.

Much of that money comes back again and again. Consider an owner whose old dog has begun to limp. The vet prescribes Librela, an antibody injection that eases the pain of arthritis, and the owner returns each month for the next dose. The flea and tick tablets follow the same rhythm, one every month. In our reading, this makes Zoetis's income steadier than a long list of products would suggest.

The income also depends on a small number of medicines. Five product lines brought in about 42% of revenue in 2025, a larger share than in either of the two years before. Four of them are for dogs; the fifth is a family of antibiotics. One customer alone accounted for 16% of sales.

Zoetis's newest products aim at longer intervals between visits. In 2026 it launched Lenivia, an arthritis injection for dogs that lasts three months, along with a similar one for cats, first in Europe and Canada. A business that leans this much on a few products for dogs and on customers in the United States feels any slowdown in American pet care at once, whether the cause lies in its own medicines or in the market around them.

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Legal Notes and Methodology

Producer and publisher: Francesco Monterosso · ReasyPort
Financial information reference: 2026-03-31
Legal contact: legal@reasyport.com

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Zoetis Inc (ZTS) - Stock report

Zoetis Inc

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