Aug 6 (Reuters) - Animal healthcare company Zoetis ( ZTS )

raised its annual profit and revenue forecasts on

Tuesday, betting on strong demand for its medicines and vaccines

for pets.

The company expects 2024 adjusted profit of between $5.78

and $5.88 per share, compared with its previous forecast range

of $5.71 to $5.81.

It also raised its full-year revenue forecast to between

$9.1 billion and $9.25 billion, from $9.05 billion to $9.2

billion previously.

Visits to veterinary clinics have taken a hit from staffing

shortages over the past couple of years as well as inflationary

pressures on spending by pet owners.

Zoetis ( ZTS ) said in May that despite lower visits to vet clinics

for wellness and diagnostic products, the company's growth was

being driven by its medical treatments for chronic conditions in

pets.

The company deals in vaccines, medicines as well as

diagnostic solutions for animals, and caters to more than 45

countries outside the United States.

The New Jersey-based company posted second-quarter revenue

of $2.36 billion, compared with Wall Street estimates of $2.31

billion, according to LSEG data.

Sales in its companion animal segment that sells vaccines

and treatments for dogs, cats and horses rose 10.7% to $1.65

billion.

Revenue was driven by strong demand for its osteoarthritis

pain medication - Librela for dogs and Solensia for cats - and

tick and flea control drugs Simparica and Simparica Trio, as

well as dermatology drugs Apoquel and Cytopoint. It also expects

them to drive full-year growth.

On an adjusted basis, the company posted a profit of $1.56

per share for the second quarter, beating analysts' average

estimates of $1.49 per share.