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Tuesday, April 30, 2013

Strong pet product sales help Zoetis top estimates, (NYSE: PFE), (NYSE: ZTS)

Zoetis Inc, formerly the animal health subsidiary of U.S. pharmaceuticals giant Pfizer Inc , posted a stronger-than-expected quarterly profit, driven by growth in sales of pet products in the United States.Animal health is considered an attractive business for drugmakers as there are fewer worries about patent expiries and regulatory interventions, and a growing middle-class population in emerging markets means more people can afford pets.However, the worst drought in the United States in more than half a century has hit sales across the industry.Zoetis said sales of livestock products rose just 2 percent, compared with a 13 percent rise in pet products sales.

Pfizer Inc. (Pfizer) is a research-based, global biopharmaceutical company. Shares of PFE fell by 3.12% or $-0.95/share to $29.48. In the past year, the shares have traded as low as $21.40 and as high as $31.15. On average, 31709000 shares of PFE exchange hands on a given day and today's volume is recorded at 33751464.

Zoetis Inc, is engaged in the discovery, development, manufacture and commercialization of animal health medicines and vaccines, with a focus on both livestock and companion animals. Shares of ZTS traded higher by 1.87% or $0.61/share to $33.27. In the past year, the shares have traded as low as $30.42 and as high as $35.42. On average, 3148740 shares of ZTS exchange hands on a given day and today's volume is recorded at 2148765.



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