Pfizer Inc., will spin off its animal health unit in an initial public offering (IPO) scheduled for Thursday, Jan. 31, according to a report in Investor’s Business Daily. Zoetis, the company’s animal health unit, has annual revenue of about $4.2 billion, and is the global leader in the $22 billion veterinary drug industry.
About one-third of Zoetis’ revenue comes from anti-infectives, a fourth from vaccines and the rest from parasiticides, feed additives and other products. About two-thirds of the company’s revenue comes from products for the livestock industry with the balance from products for pets, according to the report. About 40 percent of the company’s sales are from the United States.
Pfizer products for the swine industry include Draxxin, Excede, Fostera PRRS, Flusure XP, Improvest and Lincomix, among others.
The price of the Zoetis IPO shares will be $22 to $ 25. The ticker symbol will be ZTS.
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