Zoetis Inc. · NYSE:ZTS
Zoetis — 43rd Annual J.P. Morgan Healthcare Conference (November 2025)
28 slides from Zoetis's conference presentation, Nov 4, 2025
Slide 1: A Best in Breed Growth Strategy
A Best in Breed Growth Strategy 43rd Annual J.P. Morgan Healthcare Conference January 14, 2025
Slide 2: Forward-Looking Statements and Non-GAAP Financial Information
Forward-Looking Statements This presentation contains forward-looking statements, which reflect the current views of Zoetis with respect to: business plans or prospects, future operating or financial performance; future guidance, future operating models, R&D costs; timing and likelihood of success;
Slide 3: Kristin Peck and Wetteny Joseph
Kristin Peck Wetteny Joseph Chief Executive Officer Executive Vice President and Chief Financial Officer 3 43rd Annual J.P. Morgan Healthcare Conference
Slide 4: What You Will Hear Today
What You Will Hear Today Excellent Capitalizing Diverse Strong Creating 2024 on trends in a growth pipeline to shareholder performance resilient and drivers drive new value growing growth industry Achieved double- Commercial Leveraging a Disruptive Well-positioned to digit revenue expertise drives d
Slide 5: Excellent 2024 Q3 Year-to-Date Results
Excellent 2024 Q3 Year-to-Date Results Revenue Adj. Net Income2 Adj. Diluted EPS2 $6.9B $2.1B $4.52 12% operationally YoY1 16% operationally YoY1 18% operationally YoY1 Key Highlights Growth fueled by Librela® and Simparica® franchise Key Dermatology Optimizing capital market- Solensia® continue to
Slide 6: Unique Benefits of Animal Health Provide Differentiated Value
Unique Benefits of Animal Health Provide Differentiated Value Direct access to Self-pay model Cost-effective Diversity of species decision-makers reduces impact of R&D drives and markets optimizes patent cliffs attractive ROIC provides multiple commercial model growth levers 6 43rd Annual J.P. Morga
Slide 7: Human-Animal Bond Strong Driver of Future Growth
Human-Animal Bond Strong Driver of Future Growth Younger, wealthier Stronger human- Gen Z and Millennial animal bond pet owners Increase in pet Pets living longer medicalization Utilization of convenient, Significant unmet medical alternative channels needs 7 43rd Annual J.P. Morgan Healthcare Confe
Slide 8: Livestock Continues to Benefit From Key Growth Drivers
Livestock Continues to Benefit From Key Growth Drivers Global population Rising middle class and growth growing demand for animal protein More investment in Short-term headwinds sustainable agriculture have dissipated 8 43rd Annual J.P. Morgan Healthcare Conference
Slide 9: Animal Health Steady and Resilient Across Different Market Cycles
Animal Health Steady and Resilient Across Different Market Cycles 12% Growing in Global Recession 5% average per year since 2008 10% Operational Growth %1 8% 6% 4% 2% 0% 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Source: Vetnosis for historical core animal health
Slide 10: Animal Health Poised for Continued Strong, Sustainable Growth
Animal Health Poised Expected Market Growth ($B)1 for Continued Strong, ~$75B - $85B Sustainable Growth ~$60B - $70B Key market drivers in the next 5-10 years: 4% CAGR2 • Deepening human-animal bond ~$48B • Increasing medicalization and lifespan 6% CAGR2 • Aging of pandemic-era pets • Expanding glob
Slide 11: Zoetis Has Consistently Grown Faster Than the Animal Health Market
Zoetis Has Consistently Grown Faster Than the Animal Health Market 15% 12% 10% 8% 8% 8% 8% 8% 8% 8% 7% 7% 7% 7% 7% 6% 6% 6% 5% 5% 4% 4% 3% 2% 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 YTD 4 Industry operational revenue growth 1 Zoetis organic operational revenue growth 2 8% Revenue
Slide 12: Zoetis Revenue Growth Outpacing U.S. Vet Clinic Revenue and Visits
Regression analysis shows that Zoetis Revenue Zoetis U.S. Companion Animal revenue has a much stronger Growth Outpacing correlation1 with clinic revenue than with clinic visits U.S. Vet Clinic Revenue and Visits 91% Industry Trends: to Growth in • Sustained clinic revenue and revenue-per-visit Clini
Slide 13: Simparica Trio Leads the Expanding Parasiticide Segment
Simparica Trio® Leads Expected Parasiticide Market Growth ($B)1 the Expanding Parasiticide Segment ~$11.5B Parasiticides, the largest segment in Animal ~$9.5B Health, are evolving toward triple combination 4% oral products, where Simparica Trio CAGR leads with: ~$6.5B • Market share in adult dogs an
Slide 14: Dermatology Poised for Continued Strong, Sustainable Growth
Dermatology Poised Expected Dermatology Market Growth ($B)1 for Continued Strong, Sustainable ~$3.5B Growth ~$2.5B Apoquel® and Cytopoint® lead Canine Dermatology with: 7% CAGR • Over a decade of real-world experience • High satisfaction and safety among vets and ~$1.5B pet owners 11% CAGR Category
Slide 15: A Non-Linear Blockbuster Trajectory: Cytopoint
CYTOPOINT CASE STUDY A Non-Linear Blockbuster Trajectory Cytopoint Revenue Progression 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 August January April June April January January February February U.S. Launched in U.S. Launched in EU U.S. allergic Launched in Launched in Australia Canada aller
Slide 16: OA Pain Market Poised for Continued Strong Growth
OA Pain Market Expected OA Pain Market Growth ($B)1 Poised for Continued ~$2B - $3B >$2B Strong Growth ~$1.5 - $2B $1.5-2B 1 Librela is already a blockbuster with significant room for growth, treating just over 7% CAGR2 10% of the population of dogs treated for OA. • Drives treated population expans
Slide 17: Pipeline Drivers of Future Growth
Pipeline Drivers of Future Growth Lifecycle Geographic Disruptive Innovation Expansion Innovation Enhancing the value of existing Extending the reach of our Innovation that often changes the products through new portfolio by entering new markets standard of care globally formulations, expanded and t
Slide 18: Continued Innovation Launching Across the Portfolio in 2025
Continued Innovation Launching Across the Portfolio in 2025 Geographic Lifecycle Core Portfolio Expansion Innovation Launches • Expanding Librela and Solensia • New Simparica, Simparica Trio, • Launching poultry vector vaccines and Revolution Plus claims • Expanding Simparica Trio and • Launching La
Slide 19: Advancing Our Multi-Year Disruptive Innovation Roadmap
While Advancing Our Multi-Year Disruptive Innovation Roadmap Expected approvals in the U.S. or a top 10 international market 0 – 12 months 12 – 36 months 36 – 60 months Long-acting canine OA mAb Long-acting canine Cytopoint** Derm expansion to feline and equine Aqua DNA vaccines Long-acting feline O
Slide 20: Long-Acting Portfolio Will Expand Market for Key Franchises
Long-Acting Portfolio Will Expand Market for Key Franchises Key Benefits: • Greater convenience for pet owners Longer-acting products are who prefer less frequent dosing the most frequently cited schedules unmet need by veterinarians • Higher drug compliance, leading to (31%)1, followed by broader b
Slide 21: New Therapeutic Areas Expected to Significantly Expand Sources of Growth
New Therapeutic Areas Expected to Significantly Expand Sources of Growth Renal Market Oncology Market2 Cardiology Market (USD $M) (USD $M) (USD $M) $4,000 ~$3 - $4B1 $2,000 1,000 ~$750M - $1B1 ~1400 1 $3,000 $1,500 ~$1.2 - 1.7B1 750 $1.3 - $1.8B $2,000 $1,000 500 $1.7 - $2.2B ~$250M $1,000 $500 250
Slide 22: Our Continued Commitment to Value Creation
Our Continued Commitment to Value Creation Key components of our three to five-year outlook Grow revenue faster Invest in innovation Increase adjusted net Return excess capital than the market and growth capabilities income faster than revenue to shareholders • Broaden existing key franchises • Prio
Slide 23: Key Takeaways
Key Takeaways Excellent Capitalizing Diverse Strong Creating 2024 on trends in a growth pipeline to shareholder performance resilient and drivers drive new value growing growth industry Achieved double- Commercial Leveraging a Disruptive Well-positioned to digit revenue expertise drives diverse, dur
Slide 24: Q&A
Q&A 24 43rd Annual J.P. Morgan Healthcare Conference
Slide 25: Appendix
Appendix 25 43rd Annual J.P. Morgan Healthcare Conference
Slide 26: Reconciliation of Reported Growth to Non-GAAP Financial Measures
Reconciliation of Reported Growth to Non-GAAP Financial Measures YTD Through Third Quarter Foreign 2024 2023 Change Operational1 Exchange (Dollars in millions) Adjusted Net Income2 $2,061 $1,888 9% (7)% 16% Adjusted Diluted Earnings Per Share2 $4.52 $4.08 11% (7)% 18% 1 Operational growth (a non-GAA
Slide 27: Reconciliation of GAAP to Non-GAAP Financial Measures
Reconciliation of GAAP to Non-GAAP Financial Measures Reported Revenue Growth to Organic Operational Growth Operational Organic Change from Foreign Operational Revenue Acquisitions Efficiency Operational Prior Year Exchange Growth1 (Dollars in millions) Initiative2 Growth3 2013 $4,561 5% (2)% 7% 201
Slide 28: Thank You
THANK YOU 28
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