Pfizer Inc. Issues Statement on ZoetisTMIPO
NEW YORK--(BUSINESS WIRE)-- Pfizer Inc. (NYS: PFE) today announced that its former animal health business unit, now a standalone company named ZoetisTM, 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.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state or jurisdiction.
About Pfizer Inc.:Working together for a healthier world®
At Pfizer, we apply science and our global resources to improve health and well-being at every stage of life. We strive to set the standard for quality, safety and value in the discovery, development and manufacturing of medicines for people and animals. Our diversified global health care portfolio includes human and animal biologic and small molecule medicines and vaccines, as well as many of the world's best-known consumer products. Every day, Pfizer colleagues work across developed and emerging markets to advance wellness, prevention, treatments and cures that challenge the most feared diseases of our time. Consistent with our responsibility as the world's leading biopharmaceutical company, we also collaborate with health care providers, governments and local communities to support and expand access to reliable, affordable health care around the world. For more than 150 years, Pfizer has worked to make a difference for all who rely on us.
DISCLOSURE NOTICE: The information contained in this release is as of February 1, 2013.Pfizer assumes no obligation to update forward-looking statements contained in this release as the result of new information or future events or developments.
This release contains forward-looking information that involves substantial risks and uncertainties about the initial public offering of shares of Class A common stock of Zoetis Inc.Such risks and uncertainties include, among other things, risks relating to Zoetis as a standalone business as the result of the variables and uncertainties inherent in business, financial and operating performance, including, among other things, competitive developments and general economic, political, business, industry, regulatory and market conditions; and the potential for disruption to Zoetis as the result of the initial public offering.A further description of risks and uncertainties can be found in Zoetis' Registration Statement on Form S-1(File No. 333-183254), as amended, as filed with the Securities and Exchange Commission.
All content set forth in this communication is subject to consultation with works councils, unions and employee representatives as required by and subject to local laws and regulations.
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