Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Pfizer Files for IPO in Plan to Spin off Animal Health

Pfizer Inc., the world’s biggest drugmaker, took another step forward with a plan to spin off its animal health unit, registering the initial public offering with U.S. regulators

Pfizer has said it plans to sell as much as 20 percent of the new company, to be called Zoetis Inc., to raise cash. The New York-based drugmaker may enable current investors to swap a portion of their Pfizer shares for stock in the new company. Pfizer also could hold the stock for sale later.

The regulatory filing today moves to complete the final announced piece of Chief Executive Officer Ian Read’s effort to shrink Pfizer by selling and spinning off non-drug units, which included the April sale of its infant nutrition unit for $11.9 billion to Vevey, Switzerland-based Nestle SA.

Pfizer fell less than 1 percent to $23.72 at the close of New York trading.

The animal health unit generated $4.23 billion last year from products used in livestock and pets.

JPMorgan Chase & Co., Bank of America Corp. and Morgan Stanley are acting as underwriters.

Juan Ramon Alaix will continue as Zoetis’s CEO, and Richard Passov will carry on as Chief Financial Officer. Frank D’Amelio, Pfizer’s CFO, will be the chairman of the board of the new company.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.