Pfizer is busy downsizing from health-care conglomerate to a focused pharmaceutical company. It sold off its nutrition business to Nestle for $12 billion and spun out 20% of its animal health division into a new company, Zoetis, forShow More Summary
(Reuters) - Pfizer Inc said on Wednesday it will spin off its majority stake in animal health business Zoetis Inc to shareholders by allowing them to swap Pfizer stock for Zoetis stock at a 7 percent discount.
If pharmaceutical companies can break up, why not biotech companies? Following in the footsteps of Abbott Laboratories (NYSE:ABT) spinning out its drug division into AbbVie Inc (NYSE:ABBV), and Pfizer spinning out its animal health division into animal health products into Zoetis, Theravance Inc (NASDAQ:THRX) is splitting up. Show More Summary
If pharmaceutical companies can break up, why not biotech companies? Following in the footsteps of Abbott spinning out its drug division into AbbVie, and Pfizer spinning out its animal health division into animal health products into...Show More Summary
ByWM Analyst: Pfizer (NYSE:PFE) has had an exciting past 12 months; selling off its nutrition business to Nestlé (NSRGY.PK) for $11.9 billion, and spinning off Zoetis (NYSE:ZTS), its animal health operation. Pfizer also cut some $4.5 billion in costs last year from R&D, sales and administration, and intends to cut more this year. Show More Summary
Zoetis™ Declares Second-Quarter 2013 Dividend MADISON, N.J.--(BUSINESS WIRE)-- The Board of Directors of Zoetis TM ( NYS: ZTS ), formerly the animal health business of Pfizer Inc., has declared a second-quarter dividend payable to holders of the company's Class A common stock and Class B common stock of $0.065 per share. Show More Summary
Zoetis™ to Host Webcast and Conference Call on First-Quarter 2013 Financial Results MADISON, N.J.--(BUSINESS WIRE)-- Zoetis TM ( NYS: ZTS ), formerly the animal health business of Pfizer Inc., will host a webcast and conference call at 8:30 a.m. Show More Summary
Zoetis, formerly the animal health business unit of Pfizer, announced its vision for business in Europe, Africa and the Middle East (EuAfME). Building on 60 years of experience in the animal health sector, the company aims to have its products, services and people as the most valued by animal health customers around the region, and the world.
There has been a flurry of activity in the pharmaceutical industry lately: Pfizer spun-out it's animal health division into Zoetis, Abbott spun-out it's branded drug-making unit into AbbVie, and AstraZeneca recently changed its chief executive. Show More Summary
Although spin-off situations offered investors compelling investment opportunities most of the time, investors should study each situation quite carefully to determine its own attractiveness. Recently, Pfizer Inc. (NYSE:PFE) has sold 86.1 million class A shares in its animal health unit, Zoetis Inc (NYSE:ZTS) in the form of an IPO. Show More Summary
By Julie Young: The initial public offering for Zoetis, previously Pfizer's animal health business, has been successful. The stock opened on February 1 at $31.50 and has gained 9.13% since its opening. What initially makes Zoetis attractive to investors is that it is the only animal health company publicly traded on the open market. Show More Summary
Pfizer Inc. (NYSE:PFE) recently spun off animal health firm Zoetis Inc (NYSE:ZTS) in the form of an IPO. Should you take a spin in the animal kingdom or stick with treating humans? Let’s take a look a closer look at their business models. Research & development Zoetis’ model relies on leveraging existing animal health products by [...]
By The Value Investor: It has been two weeks since Zoetis (ZTS) made its public debut on the first day of the month. Shares of the animal health business, which is a spin-off of Pfizer (PFE), ended their first day with gains of 19.3% at $31.01 per share. Show More Summary
ByDeep Dives: In the wake of the successful spinoff of Pfizer's (PFE-NYSE) former animal health unit, Zoetis (ZTS-NYSE) (company site link), our attention is drawn to analyzing the balance sheet of the pharmaceutical company. It follows...Show More Summary
Looking for the hottest name in health care? Right now it’s not big pharma nor even a hot biotech firm making waves on Wall Street; it’s newly minted animal health firm Zoetis Inc (NYSE:ZTS). After shares of Pfizer Inc. (NYSE:PFE)‘s former animal health division zoomed out of the gate following its IPO, investors are looking to [...]
Shares of Pfizer's animal health business, Zoetis, surged in their trading debut after the company's IPO raised $2.2 billion — the largest IPO by a U.S. company since Facebook Inc. raised $16 billion last May. Pfizer Inc., the world's largest drugmaker, is keeping an ownership stake of at least 80% in Zoetis Inc. Show More Summary
Animal health business shoots higher in trading debut.
Shares of the Pfizer animal health spinoff -- the biggest U.S. initial public offering since Facebook's last spring -- make an impressive market entrance.
By Chris Katje: Zoetis (ZTS), the animal health unit from Pfizer (PFE), has officially been priced for its initial price offering. On Thursday night, Pfizer sold 86.1 million shares at $26 for a total offering of $2.24 billion. The valuation from the IPO gives Zoetis a market valuation of $13 billion. Show More Summary
The Pfizer division, known as Zoetis, exceeded expectations by pricing its stock at $26 a share in an initial public offering that values the company at about $13 billion.