Отчётный звонок Zoetis Inc.

… extends our growth runway, to strategic actions that sustain growth through competition, to sharpening focus in livestock post-MFA, and strengthening our commercial and medical capabilities globally. Before highlighting our performance drivers for the year, I just want to share what we've seen in the U.S. since our third quarter call. as these dynamics show up across the portfolio. In the veterinary channel, we continue to see some economic pressure on Gen Z and millennial pet owners, which has contributed to a decline in therapeutic visits and doses. At the same time, emergency and urgent care continue to show strength, which reinforces our view that this is not a decline in underlying demand for care, but rather greater price sensitivity and tighter household budgets when it comes to the cost of routine care. We are beginning to see clinics react to this environment by taking a more measured approach to the overall cost of care for pet owners. We are also operating in a more competitive landscape, including elevated promotional launch activity, which historically has not been sustainable. In response, we are taking targeted actions to offset these pressures by optimizing our …

… 34% operationally to $41 million in sales, driven by increased adoption in Australia and geographic expansion. Samparica declined 9% operationally on $49 million in sales, largely due to software macroeconomic conditions in Brazil, our largest international market for Samparica. Our key dermatology franchise grew 2% operationally, costing $155 million in revenues. Growth was driven by Apricol-Truable and Cytopoint, which remain differentiated. While we have seen some impact on Apricol share due to competition, switch from Cytopoint and Apricol-Truable has been limited. We continue to drive expansion in the overall market through higher compliance and new patient adoption driven by direct-to-consumer investments and expect additional insurance to further increase awareness of dermatological treatment options. Our OEP MAPs grew 2% operationally in international markets on $84 million in revenue. International Libella sales were $64 million, down 2% operationally in the quarter. Performance continues to be mixed, with weaker performance in English-speaking markets being partially offset by the rest of the international market. Valencia grew 15% operationally on $21 million in …

… mix, increasing weekend frequency with veterinarians, while reinforcing our scientific leadership through expanded medical education. But stepping back, these near-term dynamics are unfolding within a broader U.S. macro environment that we believe will gradually improve as we move through 2026. And some of our veterinary partners are even beginning to reengage in acquisitions and de novo clinic development. The continued expansion of retail-based clinics, standalone hospitals, and urgent and specialty care centers reflect evolving pet ownership dynamics and the emergence of new operating models across the industry. These trends underscore a market that is adjusting and evolving, even as pressures persist. And despite these near-term headwinds in the U.S., Zoetis continues to lead across key brands. Our portfolio continues to be differentiated by the pace and scale of our innovations. With more than 185 geographic expansions and lifecycle innovations in 2025, we expanded access to proven therapies, addressed additional unmet medical needs, and strengthened our foundation for future growth as the operating environment evolves. Turning to our performance drivers, our Semperica …