Zoetis, a subsidiary of Pfizer, filed a registration statement with the US Securities and Exchange Commission for a potential initial public offering (IPO) of Class A common stock, Pfizer announced in an Aug. 13, 2012 press release.
Details of the IPO, including the price and number of shares, have not yet been determined. The offering, however, is expected to represent an ownership stake of up to 20%.
Prior to the IPO completion, which is targeted for the first half of 2013, Pfizer will transfer its animal health business to Zoetis. The Pfizer Animal Health business unit works to discover, develop, manufacture, and commercialize animal health medicines and vaccines for both livestock and companion animals.