Pfizer Inc. (NYSE: PFE) today announced that its former animal health business unit, now a standalone company named Zoetis TM, began trading on the New York Stock Exchange under the ticker symbol “ZTS.”
“This is a proud moment for all Zoetis and Pfizer employees,” said Ian Read, chairman and chief executive officer of Pfizer. “With the Zoetis initial public offering, we are creating the largest standalone company fully devoted to animal health medicines and vaccines. For Pfizer, we are better positioned to focus on our core business as an innovative biopharmaceutical company, by unlocking value from the animal health business that will return value to Pfizer shareholders.”
Building on a 60-year history as the animal health business of Pfizer, Zoetis discovers, develops, manufactures and markets veterinary vaccines and medicines for livestock and companion animals. Pfizer announced in 2012 that it would pursue an initial public offering (IPO) of a minority ownership stake in its animal health business unit as part of its long-term strategy to focus on the company’s core biopharmaceuticals business.
Serving health needs across eight animal species, including farm animals such as cattle, pigs, poultry, sheep and fish, and companion animals such as dogs, cats and horses, Zoetis’ diversified portfolio of more than 300 product lines spans five categories: vaccines, parasiticides, anti-infectives, medicated feed additives, and other pharmaceuticals for veterinarians and livestock producers.“Since 1952, our animal health business has served the needs of those who raise and care for animals with high quality medicines and vaccines. Now, as Zoetis, it is well positioned to pursue the growth strategies that will enhance its global reach and drive further commercial success. We congratulate our Zoetis colleagues on this important milestone,” said Read. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state or jurisdiction.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV