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Pfizer Inc.
PFE today announced that its former animal health business
unit, now a standalone company named Zoetis
ZTS, 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.
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