Zoetis hives off 3 manufacturing plants in deal with Bulgarian drugmaker

Zoetis ($ZTS), under pressure from investors to shape up, laid out a sweeping plan earlier this year to eliminate 10 plants and about 2,500 jobs as part of an effort to flush out operating costs and improve its margins. But the animal health leader did not specify at the time which plants would have to go. Now it has provided its first peek at its intentions and it is starting with a three-facility deal with a Bulgarian firm. More from FiercePharmaManufacturing