Zoetis, the world’s largest animal health company, recorded weaker sales of livestock health products in 2020, with sales of health medicines for cattle weakest of all.
Reporting full-year results this week, Zoetis said sales of animal health medicines for cattle were down 6% in 2020 to just under $1.6bn (€1.3bn).
Zoetis blamed the drop in sales on competition from generic animal medicine producers and tighter vaccine supplies. Sales of animal health medicines for cattle account for 53% of Zoetis’ entire portfolio of livestock medicine sales.
For 2020, sales of pet medicines increased 17% to $3.4bn
The remaining sales in its livestock division are products for treating health issues in pigs, poultry, sheep and other animals. Sales of poultry medicines were down 4% in 2020, while medicines for pigs increased by 2%.
In contrast, Zoetis continues to see bumper sales growth for health products for pets and small animals. For 2020, sales of pet medicines increased 17% to $3.4bn (€2.8bn). Overall, Zoetis recorded a 7% increase in full year sales to $6.7bn (€5.6bn) and made profits of almost $2bn (€1.7bn) – up 11% year-on-year.