1950s to 2000s
In the 1950s, Pfizer began research on several drugs, including oxytetracycline, which was found to be effective in livestock. In 1952, the Pfizer Agriculture Division opened a 732-acre research and development facility in Terre Haute, Indiana, called Vigo.[9][10] By 1988 the division was renamed Pfizer Animal Health.[9]
The 1995 acquisition of Norden Laboratories from GlaxoSmithKline expanded Pfizer's animal health division into small animal care, including domestic pets.[9] Secondary research and development centres were opened in Kalamazoo, Michigan, in 2003.[9] In the same year, Pfizer acquired Pharmacia Corporation for US$60 billion in stock options.[11] Between 2007 and 2011, the company acquired Embrex Inc, Catapult Genetics, Bovigen, Wyeth, Fort Dodge Animal Health, Vetnex Animal Health Ltd, Synbiotics Corporation, Microtek, King Pharmaceuticals, and Alpharma.[9]
2010s to present
Plans to break away Pfizer Animal Health into a separate company were officially announced in 2012.[12][4] The new firm was named Zoetis in allusion to the Greek-derived zoological term zoetic, meaning "pertaining to life".[4][13]
Zoetis Inc.'s revenues exceeded $4.2 billion in 2011 and $4.34 billion in 2012.[14][4] The animal health industry worldwide is an estimated US$22 billion industry.[4]
2012: IPO
Records show that Pfizer officially filed for registration of a Class A stock with the U.S. Securities and Exchange Commission on August 10, 2012.[9][20] Zoetis' IPO on February 1, 2013 sold 86.1 million shares for US$ 2.2 billion.[21] Shares sharply rose 19% by the end of the trading day to $35.01 a share, up from $26.[4] At the time, it was the largest IPO from a U.S. company since Facebook's $16 billion IPO on May 18, 2012.[22] Pfizer retained 414 million Class B shares giving it an 83% controlling stake in the firm.[23]
Acquisitions
In November 2015, the company announced it would acquire a developer of aquaculture treatments and diseases, Pharmaq, for $765 million.[24][25] In 2017, Zoetis acquired Ireland-based Nexvet, a company with a biologics focused technology and product candidate pipeline.[26] In the same year, the company also acquired KL Automation, a robotics company.[7]
In May 2018, the company announced its intention to acquire Abaxis for $1.9 billion in cash.[27][28]
In August 2021, Zoetis announced it would buy Jurox, increasing the business' presence in New Zealand, the US, Canada and the UK.
