Keith Speights (Zoetis): It’s been an especially rough year for Zoetis. Shares of the animal health company have plunged more than 40%. It has faced several headwinds, including supply chain issues, staffing challenges in veterinarians’ offices, and the strong U.S. dollar.
But the long-term prospects for Zoetis remain bright. More than 60% of the company’s total revenue comes from products for companion animals. This market should expand significantly as more people adopt pets and spend on the animals’ health.
Zoetis’ livestock business should also be a solid growth opportunity. The demand for protein in emerging markets, notably China, appears likely to increase as overall income levels grow.
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