The lives of a pampered pet puppy and a factory-farmed piglet couldn’t be more different. Yet they are both likely to receive significantly more healthcare in their lifetimes than they would have just a few years ago. The winner in both cases is Zoetis ZTS –1.58% 

Zoetis (ticker: ZTS), the world’s only pure-play global animal-health company, was spun out of Pfizer PFE +0.61%  (PFE) nearly a decade ago. In that time, profits have marched relentlessly higher, helped by rising spending on domestic animals.