Zoetis Inc. (ZTS): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el mundo dinámico de Animal Health, Zoetis Inc. (ZTS) se erige como una fuerza pionera, revolucionando la atención veterinaria a través de su innovador modelo de negocio. Desde la investigación farmacéutica de vanguardia hasta las redes de distribución global, este líder de la industria transforma la forma en que abordamos el bienestar animal, sirviendo todo, desde las amadas mascotas compañeras hasta las poblaciones de ganado crítico. Su estrategia integral abarca diagnósticos avanzados, vacunas pioneras y soluciones personalizadas que no solo mejoran la salud animal sino que también impulsan la productividad agrícola y la innovación científica.

Zoetis Inc. (ZTS) - Modelo de negocio: asociaciones clave

Clínicas veterinarias y hospitales de animales en todo el mundo

Zoetis mantiene asociaciones con aproximadamente 70,000 clínicas veterinarias a nivel mundial. En 2023, la compañía informó conexiones directas con más del 85% de las prácticas veterinarias de animales de compañía en los Estados Unidos.

Tipo de asociación	Número de clínicas	Cobertura geográfica
Clínicas de animales acompañantes	45,000	América del Norte, Europa, Asia-Pacífico
Prácticas veterinarias de ganado	25,000	Regiones agrícolas globales

Instituciones de investigación agrícola

Zoetis colabora con 52 principales centros de investigación agrícola en 18 países. Las asociaciones de investigación se centran en la innovación de la salud animal y el desarrollo genético.

• Universidad de California Davis
• Universidad Estatal de Iowa
• Royal Veterinary College, Reino Unido
• Universidad Agrícola de China

Fabricantes y proveedores farmacéuticos

En 2023, Zoetis trabajó con 127 socios de fabricación farmacéutica, con un 73% ubicado en América del Norte y Europa.

Categoría de proveedor	Número de socios	Valor de adquisición anual
Proveedores de ingredientes farmacéuticos activos	42	$ 876 millones
Proveedores de materiales de embalaje	85	$ 412 millones

Ganadería y organizaciones de cría de animales acompañantes

Zoetis se asocia con 215 organizaciones de reproducción en todo el mundo, que cubre tanto la genética animal de ganado como acompañante.

• Asociación Americana de Angus
• Holstein Association USA
• AKC Canine Health Foundation
• Sociedad Internacional de Transferencia de Embriones

Proveedores de soluciones de tecnología y salud digital

En 2023, Zoetis invirtió $ 127 millones en asociaciones de salud digital, colaborando con 38 compañías de tecnología que se especializan en soluciones digitales veterinarias.

Enfoque tecnológico	Número de socios	Inversión
Plataformas de telemedicina	12	$ 42 millones
Compañías de análisis de datos	26	$ 85 millones

Zoetis Inc. (ZTS) - Modelo de negocio: actividades clave

Investigación y desarrollo de productos de salud animal

Inversión en I + D en 2023: $ 526 millones

Área de enfoque de I + D	Inversión anual
Productos animales de compañía	$ 342 millones
Soluciones de salud de ganado	$ 184 millones

Fabricación de productos farmacéuticos y vacunas veterinarios

Instalaciones de fabricación total: 25 ubicaciones globales

• Sitios de fabricación en 12 países
• Capacidad de producción anual: dosis de vacuna de 2.300 millones
• Producción farmacéutica anual: 1.700 millones de unidades

Ensayos clínicos y pruebas de productos

Categoría de prueba	Pruebas anuales realizadas
Pruebas de animales acompañantes	87 estudios clínicos
Pruebas de ganado	53 estudios clínicos

Ventas globales y marketing de soluciones de salud animal

2023 Ventas globales: $ 8.1 mil millones

• Segmento de animales de compañía: $ 4.9 mil millones
• Segmento de ganado: $ 3.2 mil millones
• Ventas en más de 100 países en todo el mundo

Servicios de diagnóstico veterinario

Servicio de diagnóstico	Pruebas anuales realizadas
Diagnóstico de animales acompañantes	42 millones de pruebas
Diagnóstico de ganado	18 millones de pruebas

Zoetis Inc. (ZTS) - Modelo de negocio: recursos clave

Cartera de patentes extensa

A partir de 2024, Zoetis posee aproximadamente 1,200 patentes activas en los mercados globales. Valor de cartera de patentes estimado en $ 2.3 mil millones.

Categoría de patente	Número de patentes	Valor estimado
Salud de animales de compañía	650	$ 1.2 mil millones
Salud animal de ganado	550	$ 1.1 mil millones

Investigaciones y instalaciones de desarrollo

Zoetis opera 8 centros de I + D primarios a nivel mundial con una inversión total de $ 658 millones en 2023.

• Ubicaciones primarias de I + D: Estados Unidos, China, Brasil, Alemania
• Gastos anuales de I + D: $ 658 millones
• Personal de investigación total: 1.400 científicos y veterinarios

Red de distribución global

Zoetis mantiene la infraestructura de distribución en más de 100 países con 21 instalaciones de fabricación.

Región	Número de centros de distribución	Volumen de distribución anual
América del norte	12	$ 4.2 mil millones
Europa	6	$ 2.7 mil millones
Asia-Pacífico	3	$ 1.9 mil millones

Recursos humanos

Fuerza laboral total de 14.200 empleados a partir de 2024, con experiencia especializada en ciencias veterinarias.

• Empleados con títulos avanzados: 62%
• Promedio de la tenencia del empleado: 8.3 años
• Diversidad global de empleados: 45% mujeres, 55% hombres

Reputación de la marca

Liderazgo en el mercado con una participación de mercado global del 20% en productos de salud animal, valorada en $ 7.6 mil millones de capital de marca.

Métrico de marca	Valor
Cuota de mercado global	20%
Equidad de la marca	$ 7.6 mil millones
Índice de fidelización del cliente	87%

Zoetis Inc. (ZTS) - Modelo de negocio: propuestas de valor

Soluciones integrales de salud animal para ganado y animales de compañía

Zoetis generó $ 8.125 mil millones en ingresos en 2023, con segmentos clave de productos que incluyen:

Segmento	Ingresos (2023)
Productos animales de compañía	$ 4.3 mil millones
Productos para ganado	$ 3.825 mil millones

Vacunas innovadoras y tratamientos farmacéuticos

Zoetis invirtió $ 734 millones en investigación y desarrollo en 2023, centrándose en:

• Vacunas de animales de compañía
• Prevención de enfermedades ganaderas
• Tratamientos farmacéuticos

Bienestar animal mejorado y productividad

Métricas de rendimiento del producto:

Categoría de productos	Mejora de la productividad
Vacunas para ganado	Hasta el 15% aumentó la productividad agrícola
Medicamentos de animales de compañía	Prevención mejorada de enfermedades en un 22%

Tecnologías avanzadas de diagnóstico y atención médica preventiva

Portafolio de tecnología de diagnóstico valorada en $ 1.2 mil millones en 2023, que incluye:

• Kits de prueba genética
• Plataformas de medicina de precisión
• Sistemas de monitoreo de salud digital

Productos científicamente probados y de seguridad de calidad

Métricas de garantía de calidad:

Métrica de calidad	Actuación
Tasa de aprobación del producto	98.5%
Tasa de éxito del ensayo clínico	87%

Zoetis Inc. (ZTS) - Modelo de negocios: relaciones con los clientes

Equipos de ventas directos que apoyan a los veterinarios

Zoetis mantiene una fuerza de ventas dedicada de 3.700 representantes a nivel mundial a partir de 2023. Estos representantes se involucran directamente con los profesionales veterinarios en los sectores de animales y ganaderas complementarias.

Segmento del equipo de ventas	Número de representantes
División de animales de compañía	2,100
División de animales de ganado	1,600

Plataformas de atención al cliente digital

Zoetis opera canales integrales de soporte digital con Accesibilidad al servicio al cliente 24/7 en línea.

• Sitio web de atención al cliente con tasa de respuesta del 98.5%
• Aplicación móvil para información del producto
• Canales de soporte por correo electrónico

Capacitación técnica y recursos educativos

Zoetis invierte $ 42.6 millones anuales en programas de educación y capacitación del cliente.

Programa de capacitación	Inversión anual
Seminarios web veterinarios profesionales	$ 12.3 millones
Plataformas de aprendizaje en línea	$ 18.7 millones
Talleres de capacitación en el sitio	$ 11.6 millones

Servicios de consulta personalizados

Zoetis ofrece servicios de consulta especializados en múltiples segmentos veterinarios.

• Veterinarios de servicio técnico dedicado: 650 profesionales
• Programas de recomendación de productos personalizados
• Servicios de consulta de granja/clínica individuales

Participación continua del cliente a través de canales digitales

Las métricas de participación digital demuestran la sólida estrategia de interacción con el cliente de Zoetis.

Canal digital	Usuarios activos mensuales
Portal de clientes	127,500
Aplicación móvil	85,300
Plataforma comunitaria profesional	62,700

Zoetis Inc. (ZTS) - Modelo de negocio: canales

Fuerza de ventas directa

Zoetis mantiene una fuerza de ventas directa global de 3.700 representantes de ventas a partir de 2023. El equipo de ventas cubre directamente a 45 países, con equipos especializados para diferentes segmentos de salud animal.

Segmento del equipo de ventas	Número de representantes
Segmento de animales de compañía	2,100
Segmento de ganado	1,600

Clínicas y hospitales veterinarios

Zoetis sirve aproximadamente 70,000 clínicas veterinarias en todo el mundo, con estrategias de participación directa.

• Cobertura de la clínica veterinaria de América del Norte: 85%
• Cobertura de la clínica veterinaria europea: 65%
• Cobertura de la clínica veterinaria de Asia-Pacífico: 55%

Plataformas de comercio electrónico en línea

Los canales de ventas digitales generaron $ 1.2 mil millones en ingresos para Zoetis en 2023, lo que representa el 12% de las ventas totales de la compañía.

Plataforma de comercio electrónico	Volumen de ventas anual
Sitio web de Zoetis Direct	$ 450 millones
Plataformas veterinarias de terceros	$ 750 millones

Tiendas de suministros agrícolas

Zoetis distribuye productos a través de 12.500 tiendas de suministros agrícolas en 30 países.

• Cobertura de la tienda agrícola de los Estados Unidos: 4.200 tiendas
• Cobertura de la tienda agrícola de Brasil: 2,100 tiendas
• Cobertura de las tiendas agrícolas europeas: 3.600 tiendas

Redes de distribuidores en múltiples países

Zoetis opera a través de 250 distribuidores independientes en 100 países, cubriendo regiones con presencia de ventas directas limitadas.

Región	Número de distribuidores	Cobertura del mercado
África	45	35 países
Oriente Medio	30	20 países
América Latina	75	25 países

Zoetis Inc. (ZTS) - Modelo de negocio: segmentos de clientes

GRANJEROS DE GRANDES Y PRODUCTORES AGRÍCOLAS

Zoetis atiende a aproximadamente 1,3 millones de agricultores de ganado a nivel mundial, con un alcance del mercado en más de 100 países.

Segmento de ganado	Tamaño del mercado global	Contribución de ingresos
Productores de ganado	500,000 granjas	$ 2.4 mil millones (2023)
Productores de cerdos	67,000 granjas comerciales	$ 1.8 mil millones (2023)
Productores de aves de corral	20,000 operaciones comerciales	$ 1.2 mil millones (2023)

Profesionales veterinarios

Zoetis sirve aproximadamente 85,000 clínicas veterinarias en todo el mundo.

• Veterinarios de animales acompañantes: 65,000 clínicas
• Veterinarios de animales grandes: 20,000 prácticas

Dueños de animales acompañantes

El mercado objetivo incluye 470 millones de hogares propietarios de mascotas a nivel mundial.

Categoría de mascota	Hogares globales	Potencial de mercado
Dueño de perros	250 millones de hogares	$ 3.6 mil millones (2023)
Dueños de gatos	180 millones de hogares	$ 2.9 mil millones (2023)

Organizaciones de cría de animales

Zoetis atiende a 5,000 organizaciones de cría comercial internacionalmente.

• Reemplazo de lácteos: 2.500 organizaciones
• Reproducción de ganado de carne de res: 1.200 organizaciones
• Reemplazo de cerdos: 800 organizaciones
• Poulry Breeding: 500 organizaciones

Investigaciones de instituciones y universidades

Zoetis colabora con 350 instituciones de investigación a nivel mundial.

Tipo de investigación	Número de instituciones	Inversión de investigación
Investigación veterinaria	200 instituciones	$ 450 millones (2023)
Investigación agrícola	100 instituciones	$ 250 millones (2023)
Investigación biotecnología	50 instituciones	$ 150 millones (2023)

Zoetis Inc. (ZTS) - Modelo de negocio: Estructura de costos

Gastos de investigación y desarrollo

En el año fiscal 2023, Zoetis invirtió $ 416 millones en gastos de investigación y desarrollo, lo que representa el 6.4% de los ingresos totales.

Año	Gastos de I + D	Porcentaje de ingresos
2023	$ 416 millones	6.4%
2022	$ 385 millones	6.2%

Costos de fabricación y producción

Zoetis reportó un costo total de ventas en $ 3.1 mil millones en 2023, con instalaciones de producción clave ubicadas en:

• Estados Unidos
• Porcelana
• Brasil
• Alemania

Inversiones de ventas y marketing

Los gastos de ventas y marketing para Zoetis en 2023 totalizaron $ 1.8 mil millones, lo que representa aproximadamente el 27.7% de los ingresos totales.

Categoría de gastos	Cantidad	Porcentaje de ingresos
Ventas y marketing	$ 1.8 mil millones	27.7%

Infraestructura de distribución global

Zoetis opera 25 sitios de fabricación a nivel mundial, con redes de distribución en más de 100 países.

• Gastos logísticos: $ 287 millones en 2023
• Centros de distribución globales: 12 centros de distribución principales

Cumplimiento regulatorio y control de calidad

Los gastos de cumplimiento y control de calidad para Zoetis en 2023 fueron de aproximadamente $ 215 millones.

Área de cumplimiento	Gastos
Cumplimiento regulatorio	$ 135 millones
Control de calidad	$ 80 millones

Zoetis Inc. (ZTS) - Modelo de negocios: flujos de ingresos

Venta de productos farmacéuticos

Ingresos totales de productos farmacéuticos para Zoetis en 2023: $ 7.39 mil millones

Categoría de productos	Ingresos (2023)	Porcentaje de ventas farmacéuticas totales
Companion Animal Pharmaceuticals	$ 4.52 mil millones	61.2%
Ganado farmacéutico	$ 2.87 mil millones	38.8%

Vacunas e productos de inmunización

Ingresos totales de vacuna para Zoetis en 2023: $ 2.16 mil millones

Segmento de vacuna	Ingresos (2023)	Mercados clave
Vacunas de animales de compañía	$ 1.34 mil millones	Estados Unidos, Europa
Vacunas para ganado	$ 0.82 mil millones	Mercados globales

Servicios de prueba de diagnóstico

Ingresos de servicios de diagnóstico en 2023: $ 653 millones

• Pruebas de diagnóstico de animales de compañía: $ 412 millones
• Servicios de diagnóstico de ganado: $ 241 millones

Soluciones de gestión de salud ganaderas

Ingresos totales de gestión de la salud del ganado en 2023: $ 1.87 mil millones

Segmento de ganado	Ingresos (2023)	Regiones primarias
Soluciones de salud del ganado	$ 1.12 mil millones	América del Norte, Brasil
Gestión de la salud de aves de corral	$ 0.45 mil millones	Mercados globales
Soluciones de salud porcina	$ 0.30 mil millones	Estados Unidos, China

Suscripciones de tecnología de salud digital

Ingresos de tecnología de salud digital en 2023: $ 187 millones

• Plataformas de salud digital animal de compañía: $ 112 millones
• Soluciones de monitoreo digital ganado: $ 75 millones

Zoetis Inc. (ZTS) - Canvas Business Model: Value Propositions

You're looking at the core reasons why veterinarians and producers choose Zoetis Inc. over others; it's about delivering health solutions across the entire animal lifecycle, from prevention to advanced treatment.

Comprehensive animal health solutions: Predict, Prevent, Detect, and Treat (Continuum of Care)

Zoetis Inc. focuses on an integrated approach to animal health, aiming to keep animals healthy through a full spectrum of offerings. This strategy is designed to deliver profitable growth by enhancing existing products while driving new industry advances. For the third quarter of 2025, the company reported revenue of $2.4 billion, achieving 4% organic operational growth. The company's 2024 revenue was $9.3 billion.

The value proposition centers on this continuum of care, which is supported by a robust and diversified R&D pipeline featuring 12 candidates with blockbuster potential.

Innovative monoclonal antibody therapies for chronic pain (Librela, Solensia)

The monoclonal antibody (mAb) products for osteoarthritis (OA) pain, Librela for dogs and Solensia for cats, represent a key area of innovation, though they faced headwinds in the U.S. companion animal segment in Q3 2025. In the second quarter of 2025, sales for Librela declined 16% and Solensia declined 3%. To counter this, Zoetis Inc. is advancing next-generation therapies, including extended-duration versions of these products. In 2024, Librela generated $581 million in sales and is expected to peak at over $1 billion.

The company anticipates near-term catalysts, such as the Canadian approval of Lenivia (a 3-month canine OA mAb) and the EU approval of Portela (a 3-month feline OA mAb).

Market-leading dermatology and parasiticides franchises (e.g., Apoquel, Simparica)

The parasiticides and dermatology franchises are foundational growth drivers. In 2024, these key products, including Simparica Trio, Apoquel, and Cytopoint, accounted for one-third of total revenue and saw 22% growth. The International segment in Q3 2025 saw growth driven by the Simparica franchise, with International Simparica revenue at $93 million (up 22% operationally) and Trio revenue at $41 million (up 32% operationally).

The triple-combination parasiticide market is projected to grow from $2.2 billion in 2024 to $4.5 billion by 2028.

Key product performance metrics from Q2 2025 include:

Product/Franchise	Growth Metric (Q2 2025)	Market Share/Context
Simparica Trio	+18% growth	Share of vet practices increased from 30% to 45%
Key Dermatology Products	+9% growth	Competitors include Elanco's Zenrelia and Merck's Numelvi

Solutions for livestock productivity, disease prevention, and food safety

Livestock remains a vital growth engine for Zoetis Inc.. In Q3 2025, organic operational growth for livestock was strong, with U.S. livestock growing 14% organically and the overall segment seeing +8-10% organic operational growth. This growth was supported by improved supply of ceftiofur and vaccine strength. In 2024, companion animals accounted for 68% of revenue, while livestock accounted for 31%.

The company's value proposition here includes:

• Driving productivity and sustainable animal protein supply.
• Disease prevention through vaccines and medicines.
• Focus on cattle, swine, poultry, and fish segments.

Pipeline expansion into high-value markets: oncology, cardiology, chronic kidney disease

Zoetis Inc. is actively expanding into new therapeutic frontiers to capture significant unmet medical needs. These new areas-chronic kidney disease (CKD), oncology, and cardiology-represent more than $5 billion in total addressable market opportunity.

The potential market sizes for these areas are substantial:

• Chronic Kidney Disease (CKD) is cited as the single largest opportunity, estimated at $3 billion to $4 billion annually, with no current treatment for dogs or cats.
• Oncology is estimated to represent a $2 billion market.

The company is progressing toward initial approvals in veterinary oncology in 2028 and 2029. The overall animal health market is anticipated to nearly double to approximately $90 billion by 2035.

For the full year 2025, Zoetis Inc. revised its revenue guidance to between $9.400 billion and $9.475 billion, implying organic operational growth of 5.5% to 6.5%.

Finance: review Q4 2025 cash flow projections against the revised FY2025 revenue guidance by Monday.

Zoetis Inc. (ZTS) - Canvas Business Model: Customer Relationships

You're looking at how Zoetis Inc. keeps its customers-vets, pet owners, and large producers-engaged and loyal. It's a mix of direct human interaction and digital tools, which makes sense given the complexity of animal health.

Dedicated direct sales force providing technical and veterinary expertise

Zoetis Inc. maintains a significant commercial footprint, employing approximately 13,800 people globally as of 2024. This organization includes dedicated sales representatives and technical/veterinary operations specialists. These specialists, who generally hold advanced veterinary degrees, are key relationship builders. They offer scientific consulting on disease management and herd health protocols. The company aims to understand customer needs through these direct relationships. Annually, Zoetis Inc. secures around 200 regulatory approvals, which these field teams then translate into relevant customer education.

High-touch, consultative relationship with veterinary professionals

The relationship with veterinary professionals is consultative, focusing on providing training and education, especially around responsible product use. This high-touch approach supports the adoption of innovative products like the osteoarthritis pain monoclonal antibodies, Librela and Solensia, which saw 80% operational growth in 2024. The company explicitly states its focus is to 'stay deeply connected to our customers.' For companion animal products, which drove 8% sales growth in Q1 2025, this connection is vital for driving volume in key franchises.

Digital solutions and data insights to help customers manage practices/herds

Zoetis Inc. integrates digital tools to enhance customer management capabilities. The company launched the 'Vetscan OptiCell,' an AI-powered hematology analyzer, in January 2025 to improve diagnostic efficiency at the point of care for U.S. veterinarians. In Europe, the launch of VetConnect Plus Europe, a cloud-based platform, integrates diagnostics, prescriptions, and pet health records for veterinary clinics. The company leverages customer data and CRM systems to gain insights, which helps optimize marketing and improve customer experiences. Furthermore, the use of AI in R&D and diagnostics is a core part of meeting evolving customer needs.

Here's a look at some key financial and program metrics:

Metric Category	Specific Data Point	Value/Amount	Date/Period
Customer Loyalty Program	Petcare Rewards Program Members	Over 3 million	As of May 1, 2024
Customer Loyalty Program	Rewards Spent at Practices	Over $80 million	As of May 1, 2024
Digital Solution Example	Vetscan OptiCell Launch	January 2025	2025
Segment Revenue	Q2 2025 Total Revenue	$2.5 billion	Q2 2025
Segment Revenue	Q1 2025 Livestock Revenue	$645 million	Q1 2025

Customer service and support for product use and compliance programs

Support extends to ensuring compliance and proper product use, which is managed directly by the field teams. For pet owners, Zoetis Inc. incentivizes purchases through the Petcare Rewards program, which began in 2024. This program offers tiered rewards and personalized product suggestions to over 3 million members. This focus on the end-user experience supports the strong performance of franchises like Simparica Trio, which achieved over $1 billion in global revenue in 2024.

B2B relationship management with large livestock producers and integrators

Sales to the livestock segment are made to veterinarians, producers (beef, dairy, pork, poultry), and third-party distributors. The company actively works to strengthen its connection with ranchers and dairy producers, for instance, by developing an emotional docuseries released in July 2025. The livestock segment remains a substantial part of the business, contributing $645 million in revenue in Q1 2025. The relationship with distributors is also significant; in 2024, sales to the single largest U.S. veterinary distributor accounted for approximately 14% of total revenue. This indicates a reliance on key B2B partners for market access and logistics, even as the company maintains a direct presence in emerging markets like China and Brazil.

Finance: review Q3 2025 segment revenue breakdown against direct sales force deployment by Friday.

Zoetis Inc. (ZTS) - Canvas Business Model: Channels

You're looking at how Zoetis Inc. gets its innovative animal health products into the hands of veterinarians, pet owners, and livestock producers globally. The channel strategy is a mix of direct engagement and broad third-party leverage, which is key to maintaining their position as the world's leading animal health company.

Direct sales force to veterinary clinics and livestock producers. Zoetis Inc. maintains a significant direct commercial presence, supported by approximately 13,800 employees as of the end of 2024, many of whom are sales representatives and technical/veterinary operations specialists. These teams visit customers directly to promote products and provide scientific consulting on disease and herd management. This direct relationship is crucial for high-value companion animal products and complex livestock solutions. The company organizes its commercial operations across two main segments: the United States (U.S.) and International, reflecting where this direct engagement is most concentrated or structured differently.

Third-party veterinary distributors for broad market reach. Where Zoetis Inc. does not have a direct commercial footprint, it relies on contracted distributors for logistics and sales support. This partnership model allows the company to achieve broad market penetration efficiently. For context on the scale, in the second quarter of 2025, the U.S. segment revenue was $1.4 billion, while the International segment revenue was $1.1 billion, showing a substantial global distribution effort that relies on both direct and indirect channels. Overall, operations outside the U.S. accounted for 44% of total revenue for the year ended December 31, 2024. The company's leading portfolio and pipeline make a difference in over 100 countries. It's a massive logistical undertaking, for sure.

Online sales platforms for veterinary professionals. While specific revenue figures tied exclusively to dedicated online platforms for veterinary professionals aren't broken out separately in the latest reports, the overall digital shift is implicitly supported by the company's focus on innovation and customer connection. The success of key companion animal products, which drive the majority of revenue, suggests strong integration with digital ordering systems used by clinics. For instance, companion animal sales in the U.S. segment grew 9% organically in Q2 2025, indicating high product uptake through whatever channel is used.

Retail and e-commerce platforms (e.g., Chewy.com) for certain companion animal products. The company's strategy for companion animal products, which represented about two-thirds of total revenue in 2024, includes access to the consumer market, often via retail and e-commerce partners. The continued demand for parasiticides like the Simparica franchise and dermatology treatments like Apoquel and Cytopoint is supported by these consumer-facing channels. The overall companion animal sales in the International segment grew 8% in Q2 2025, reflecting strong pull-through across all consumer access points. You have to be where the pet owners are shopping.

Global supply chain distributing products in over 100 countries. The distribution backbone supports the entire channel strategy. Zoetis Inc. manages a complex global supply chain to ensure its products reach customers in over 100 countries. This scale is reflected in the segment reporting: Q3 2025 revenue was $2.4 billion, with the International segment contributing $1.1 billion, growing 6% organically. The company's ability to manage this global flow, including navigating currency fluctuations and regulatory hurdles in foreign jurisdictions, is a core operational strength.

Here's a quick look at the segment revenue distribution, which is the clearest proxy we have for the geographic reach of their channels as of late 2025:

Metric	Value (Q3 2025 Reported)	Organic Growth (Q3 2025)	Context
Total Revenue	$2.4 billion	4%	Overall company performance
U.S. Segment Revenue	$1.3 billion	3%	Direct sales force focus area
International Segment Revenue	$1.1 billion	6%	Reliance on distributors and global logistics

The channel strategy is clearly bifurcated to maximize penetration in mature markets like the U.S. while aggressively growing in international markets, often through distributor networks. The success of blockbuster products hinges on this multi-pronged approach.

• Direct sales force supports specialized product adoption by veterinarians.
• Distributors provide necessary logistics across the 100+ countries served.
• Companion animal products, making up about two-thirds of 2024 revenue, leverage retail/e-commerce.
• The company employed approximately 13,800 people as of year-end 2024 to support these interactions.

Finance: draft 13-week cash view by Friday.

Zoetis Inc. (ZTS) - Canvas Business Model: Customer Segments

Zoetis Inc. (ZTS) serves a diverse set of customers across companion animal and livestock health markets, organized operationally into the United States and International segments.

The third quarter of 2025 revenue totaled $2.4 billion, with an organic operational increase of 4% compared to the third quarter of 2024.

Operational Segment	Q3 2025 Reported Revenue	Reported Year-over-Year Change	Organic Year-over-Year Change
United States (U.S.)	$1.3 billion	-2%	+3%
International	$1.1 billion	+3%	+6%

The customer base is served through product portfolios that align with these end-user groups.

• Veterinary Professionals (private practices, hospitals).
• Companion Animal Owners (dogs, cats, horses).
• Livestock Producers (cattle, swine, poultry, aquaculture).
• Government and Non-Governmental Organizations (NGOs) for public health initiatives.
• Strategic accounts like large corporate veterinary groups and integrators.

Companion animal products are a primary growth driver, with sales in the International segment growing 8% on a reported basis in Q3 2025.

For the U.S. segment in Q3 2025, sales of innovative companion animal products were flat for the quarter. However, the osteoarthritis (OA) pain franchise, which includes Librela and Solensia, saw 80% operational growth in 2024. The Simparica Trio franchise for dogs achieved over $1 billion in global revenue in 2024.

Livestock product sales in the International segment showed an organic increase of 8% in Q3 2025, despite a reported decline of 2% due to the divestiture of the medicated feed additive (MFA) portfolio. Separately, one report indicated the livestock portfolio grew 10% organically in Q3 2025, reaching $725 million. In Q1 2025, livestock products contributed $645 million to revenue.

In the first quarter of 2025, the U.S. segment accounted for a substantial 54% of total revenue, reaching $1.2 billion. Companion animal products represented 68% of total revenue in the 2023 Form 10-K, with livestock products at 31%.

Customer acquisition for veterinary customers involves direct sales forces, attendance at veterinary conferences, and educational programs. Retention in the livestock segment is driven by the demonstrated economic value of the company's solutions and consistent product performance.

Zoetis Inc. (ZTS) - Canvas Business Model: Cost Structure

The cost structure for Zoetis Inc. is heavily weighted toward innovation and market presence, reflecting its position as a leading animal health company.

High fixed costs from global manufacturing and supply chain operations represent a foundational element of the cost base. While specific fixed cost figures aren't explicitly broken out in the latest reports, the scale of global manufacturing for pharmaceuticals and biologics implies significant capital investment in facilities and operational infrastructure that must be absorbed regardless of short-term volume fluctuations.

Significant investment in Research and Development (R&D) remains a priority. For the latest twelve months ending September 30, 2025, R&D expenses were reported at $685 million. This follows a peak of $686 million in fiscal year 2024. The company's 2025 guidance, issued in February 2025, projected adjusted R&D expenses between $680 million and $690 million for the full year. To be fair, R&D growth was only 1% operationally in Q2 2025, driven by higher compensation costs partially offset by timing of project spend.

Selling, General, and Administrative (SG&A) expenses reflect the cost of maintaining a global commercial footprint. For the twelve months ending September 30, 2025, total SG&A expenses reached $2.384 billion. Looking specifically at the second quarter of 2025, operational SG&A expenses increased by 6%, primarily due to the timing of advertising and promotion spend and higher compensation-related expenses. For the full year 2024, annual SG&A was $2.318 billion.

Costs of Goods Sold (COGS) for pharmaceuticals and biologicals are managed for efficiency, leading to high gross margins. For the second quarter of 2025, the reported gross margin was 73.6%. The adjusted gross margin for Q2 2025 was slightly higher at 73.7%. This margin performance varies by segment, as seen in Q2 2025:

Metric	Q2 2025 Reported Margin	Q2 2025 Adjusted Margin
U.S. Segment Gross Margin	84.7%	N/A
International Segment Gross Margin	70.7%	N/A

The CFO noted that the Q2 2025 adjusted gross margin benefited from the favorable impact of the MFA divestiture and price increases, partially offset by higher manufacturing costs that were improving as they worked through inventory valued at prior year standards. The full-year 2025 guidance, as of February 2025, targeted adjusted cost of sales as a percentage of revenue around 28.0%.

Acquisition and divestiture-related costs are treated as significant items outside of core operating expenses. These costs fluctuate based on corporate activity. For the second quarter of 2025, the net impact of purchase accounting adjustments, acquisition and divestiture-related costs, and certain significant items excluded from adjusted net income totaled $65 million. This compares to $30 million in restructuring and A&D costs reported for Q2 2025, down from $42 million in the prior year period. For the third quarter of 2025, this exclusion amount was $33 million, and for the first quarter of 2025, it was $31 million.

You should keep an eye on how these non-core costs trend, as they can obscure the underlying operational cost discipline. Finance: draft 13-week cash view by Friday.

Zoetis Inc. (ZTS) - Canvas Business Model: Revenue Streams

You're looking at how Zoetis Inc. (ZTS) brings in the money, which is really about the mix of products they sell to pet owners versus the food animal industry, and where those sales happen globally. It's a dual focus that helps balance the business.

The company has set its financial expectations for the full year 2025. Full-year 2025 revenue guidance is projected to be between $9.400 billion and $9.475 billion. This guidance reflects an expected organic operational revenue growth of 5.5% to 6.5% for the full year 2025.

The revenue streams are clearly segmented by animal type, reflecting the core of the animal health market. Based on recent historical context, the split shows a strong leaning toward companion animals:

• Sales of Companion Animal Products (e.g., parasiticides, dermatology, pain management).
• Sales of Livestock Products (e.g., vaccines, anti-infectives, feed additives).
• Sales of Diagnostic Products and Genetic Tests.

To give you a sense of the product focus, in 2024, companion animals represented nearly 65% of total revenue, while production animals accounted for roughly 35%. You see this play out in the product focus, where key blockbuster products like Simparica Trio, Apoquel, and Cytopoint drove one-third of total revenue in 2024.

Revenue is geographically diversified across US and International segments. Looking at the third quarter of 2025 results, you can see the absolute dollar contribution from each major region:

Geographic Segment	Q3 2025 Reported Revenue	Q3 2025 Organic Operational Growth
US Segment	$1.3 billion	3% increase
International Segment	$1.1 billion	6% increase

The International segment showed stronger organic operational growth at 6% in Q3 2025 compared to the US segment's 3% organic growth for the same period. Still, the US segment generated $1.3 billion in revenue for that quarter.

Within those segments, the product performance varies. For instance, in the International segment for Q3 2025, sales of the company's innovative companion animal products grew 8% on a reported basis. Conversely, sales of livestock products in that same international segment declined 2% on a reported basis, largely due to the divestiture of the medicated feed additive portfolio and related assets.

The US segment saw companion animal sales flat for Q3 2025, even as gains in parasiticides, diagnostics, and dermatology treatments were noted. Finance: draft 13-week cash view by Friday.