09.06.2012

Pfizer has decided to create new stand-alone company namely Zoetis under the strategic alternatives for its Animal Health business and planning to come out with initial public offering (IPO).
Pfizer announced the spin-off amid speculation about a possible sale of company's animal health business, which analysts estimated between $15-18 billion.
The new company, Zoetis, will build on the leadership of Pfizer Animal Health in the discovery, development, manufacture and marketing of a diverse portfolio of animal vaccines, medicines, biopharmaceuticals, diagnostics and genetic tests to prevent and treat disease in livestock and companion animals. With more than 9,000 employees, the business markets its products in more than 120 countries with operations in developed and emerging markets and provides comprehensive animal health solutions to veterinarians and the livestock farmers and companion animal owners they support.