On June 6, 2012, drugmaker Pfizer Inc. said that it’s taking
their first steps to spin off its animal health business into a separate
company.
their first steps to spin off its animal health business into a separate
company.
Pfizer claimed it is preparing to submit a regulatory filing
for a possible initial offering of a minority stake in the new company, to be
called Zoetis. New York-based Pfizer said it will provide more details when it
reports its second-quarter results, likely during the first week of August (http://goo.gl/okn3p).
for a possible initial offering of a minority stake in the new company, to be
called Zoetis. New York-based Pfizer said it will provide more details when it
reports its second-quarter results, likely during the first week of August (http://goo.gl/okn3p).
“Our focus continues to be taking the actions that will
generate the greatest after-tax value for our shareholders,” Chairman and CEO
Ian Read said in a statement.
generate the greatest after-tax value for our shareholders,” Chairman and CEO
Ian Read said in a statement.
Just over seven weeks ago, Pfizer sold its infant nutrition
business for $11.85 billion to Swiss food and drink giant Nestle SA. In the
third quarter of 2011, they sold its Capsugel capsule-making business to
Kohlberg Kravis Robert & Co. for $2.38 billion in cash. These moves are
part of a major corporate makeover.
business for $11.85 billion to Swiss food and drink giant Nestle SA. In the
third quarter of 2011, they sold its Capsugel capsule-making business to
Kohlberg Kravis Robert & Co. for $2.38 billion in cash. These moves are
part of a major corporate makeover.
The new name Zoetis come from the word zoetic, meaning
“pertaining to life.”
“pertaining to life.”
In the US, the business sells Convenia, an antibiotic for
dogs and cats; Revolution, for protecting dogs and cats from fleas, heartworms
and other parasites, and a cancer drug for dogs called Palladia (http://goo.gl/okn3p).
dogs and cats; Revolution, for protecting dogs and cats from fleas, heartworms
and other parasites, and a cancer drug for dogs called Palladia (http://goo.gl/okn3p).
If you have any questions about your pets medications, give
one of our great doctors a call at the Bregman Vet Hospitals and they will help
you understand the medicine better.
one of our great doctors a call at the Bregman Vet Hospitals and they will help
you understand the medicine better.