Pfizer to sell off minority share of Zoetis, its animal health unit
Here’s some news many in the animal health world have been waiting to hear: Pfizer has announced they will be selling off a minority share in their animal health unit, Zoetis.
The exact percentage that will be up for grabs is currently unknown, but Pfizer will definitely maintain the majority of the shares for the time being.
Pfizer execs are hoping the IPO will help grow investor interest in the unit, which would lead to a more extensive offering in the coming years. Ian Read of Pfizer says the goal is to make Zoetis an independent animal health unit by July of 2013.
The eventual separation of Zoetis would help Pfizer to refine its focus back to human health and keep shareholders of the main entity happy.
Involved in the animal health industry? Check out our World Animal Health Congress, taking place this November in Kansas City.