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This statistic highlights Zoetis’ Revenue by Major Species, split across the United States and international regions, reported on a quarterly basis from Q1 2016 onwards.
|Revenue by Major Species||Q3 2020||Q2 2021||Q3 2021||Contribution in Q3 2021|
(All figures are in millions, except percentages)
The Zoetis’ Revenue by Major Species increased from $1,763 million in Q3 2020 to $1,969 million in Q3 2021, marking an 11.68% growth on a year-on-year basis. It increased by 2.12% as compared to $1,928 million in Q2 2021.
Plains All American’s revenue is further bifurcated into the following segments:
United States (US) operating segment
Increased sales of parasiticides, such as Simparica Trio, their new triple combination parasiticide, the major dermatology portfolio, and recent acquisitions of Platinum Performance and several regional diagnostic reference labs, drove the rise in companion animal revenue.
Livestock revenue fell as a result of food supply chain disruptions caused by COVID-19’s negative impact, including reduced producer processing capacity and ongoing channel migration from dining out to at-home consumption, which harmed producer profitability. Each of the cattle, swine, and poultry portfolios saw a drop as a result of the negative impact. The drop in the cattle portfolio was also due to sustained negative market circumstances in beef and dairy, while export restrictions on the usage of specific goods in our portfolio hampered our clients’ access to global markets in swine.
The major component of 54% of the company’s revenue was made up by the United States segment. Zoetis ‘s revenue owing to the United States segment increased from $996 million in Q3 2020 to $1,1065 million in Q3 2021, indicating a rise of 6.92% on a year-on-year basis, principally as a result of increased revenue and gross margins, slightly offset by higher operational expenses for revenue development investments.
International operating segment
Increased sales of our parasiticide products, particularly the Simparica brand, with the launch of Simparica Trio in the EU, Canada, and Australia, as well as the Revolution/Revolution Plus/Stronghold franchise, drove the increase in companion animal operations revenue. Apoquel and Cytopoint, two key dermatology medications, led to the company’s success.
Increased sales of swine and fish drove the increase in livestock operations revenue, but cattle and poultry sales fell. Following the outbreak of the African Swine Fever in China, sales of swine products soared as a result of improved herd production and biosecurity measures. The recent acquisition of Fish Vet Group and the recently introduced parasiticide Alpha Flux, which decreases sea lice in salmon, were the main drivers of expansion in the fish industry. Cattle product sales fell as a result of lower demand caused by COVID-19 in some countries, as well as the cessation of non-core items in Brazil. Poultry consumption has decreased as a result of COVID-19’s detrimental effects.
Zoetis ‘s revenue from the International operating segment increased from $767 million in Q3 2020 to $904 million in Q3 2021, marking an increase of 17.86% on a year-on-year basis. It contributed 46% to the company’s revenue. The main reasons for the increase were more revenue and lower operational expenditures, which were somewhat offset by a higher cost of sales.
About the company
Zoetis (NYSE: ZTS) is a multinational animal health firm focused on providing greater assistance to clients and their companies. They provide high-quality medications, vaccines, and diagnostic goods, as well as biodevices, genetic tests, and precision livestock husbandry, based on more than 65 years of experience. The company was previously a subsidiary of Pfizer, the world’s largest drugmaker, but it is now a fully independent entity after Pfizer spun out its 83 percent stake in the company.
The company distributes its products in over 100 countries and markets them directly in about 45 nations. Revenue from operations outside of the United States accounted for half of the total. In June 2013, S&P Dow Jones Indices stated that Zoetis would replace First Horizon National Corporation in the S&P 500 stock market index, coinciding with the spinoff. It went public in 2012.
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