Market Overview

Zoetis Announces Pricing of $1.5 Billion of Senior Notes


Zoetis Inc. (NYSE:ZTS) today announced that it has agreed to sell $1.5
billion of senior notes, consisting of $300 million aggregate principal
amount of floating rate senior notes due 2021, $300 million aggregate
principal amount of 3.250% senior notes due 2021, $500 million aggregate
principal amount of 3.900% senior notes due 2028 and $400 million
aggregate principal amount of 4.450% senior notes due 2048, in an
underwritten public offering.

Zoetis intends to use the net proceeds to repay $500 million drawn under
the 364-day revolving credit facility entered into on July 27, 2018,
repay $500 million issued under its commercial paper program, and for
general corporate purposes. The offering is expected to close on August
20, 2018, subject to customary closing conditions.

Barclays Capital Inc., Citigroup Global Markets Inc., J.P. Morgan
Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated and
MUFG Securities Americas Inc. are acting as joint book-running managers
of the underwriters. The final prospectus supplement and accompanying
prospectus, when available, may be accessed through the SEC's website at
Alternatively, the issuer, the underwriters or any dealer participating
in the offering will arrange to send the prospectus and prospectus
supplement upon request by calling Barclays at 1-888-603-5847, BofA
Merrill Lynch at 1-800-294-1322, Citigroup at 1-800-831-9146, J.P.
Morgan at 212-834-4533 and MUFG at 1-877-649-6848.

These securities are offered pursuant to a registration statement that
has become effective under the Securities Act of 1933, as amended. These
securities are only offered by means of the prospectus supplement and
prospectus relating to the offering. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy, nor
shall there be any offer or sale of these securities in any state or
other jurisdiction, where the offer, solicitation or sale of these
securities would be unlawful prior to the registration or qualification
under the securities laws of any such state or other jurisdiction.

About Zoetis

Zoetis is the leading animal health company, dedicated to supporting its
customers and their businesses. Building on more than 60 years of
experience in animal health, Zoetis discovers, develops, manufactures
and markets veterinary vaccines and medicines, complemented by
diagnostic products, genetic tests, biodevices and a range of services.
Zoetis serves veterinarians, livestock producers and people who raise
and care for farm and companion animals with sales of its products in
more than 100 countries.


Forward-Looking Statements: This
press release 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, expectations regarding products, future use of cash
and dividend payments, risks or expectations related to its
indebtedness, tax rate and tax regimes, changes in the tax regimes and
laws in other jurisdictions, and other future events. These statements
are not guarantees of future performance or actions. Forward-looking
statements are subject to risks and uncertainties. If one or more of
these risks or uncertainties materialize, or if management's underlying
assumptions prove to be incorrect, actual results may differ materially
from those contemplated by a forward-looking statement. Forward-looking
statements speak only as of the date on which they are made. Zoetis
expressly disclaims any obligation to update or revise any
forward-looking statement, whether as a result of new information,
future events or otherwise. A further list and description of risks,
uncertainties and other matters can be found in the prospectus
supplement and accompanying prospectus under the caption "Risk Factors"
and in our Annual Report on Form 10-K for the fiscal year ended December
31, 2017, including in the sections thereof captioned "Forward-Looking
Statements and Factors That May Affect Future Results" and "Item 1A.
Risk Factors," in our Quarterly Reports on Form 10-Q and in our Current
Reports on Form 8-K. These filings and subsequent filings are available
online at,
Zoetis' website, or on request from Zoetis.

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