Your favorite Pfizer animal health products will no longer say Pfizer on the label.
At the end of last year and early this year Pfizer announced that its Animal Health business would become a standalone company called Zoetis (zo-EH-tis).
It spun off Zoetis and offered a minority ownership stake through an Initial Public Offering (IPO). Zoetis is now a standalone company.
Zoetis offered 99,015,000 shares of its Class A common stock, including 12,915,000 shares of Class A common stock that were sold pursuant to the underwriters’ option to purchase additional shares, which was exercised in full prior to the closing.
Zoetis did not receive any of the proceeds of the offering. Following the completion of the initial public offering, Pfizer owns 100% of the outstanding Class B common stock of Zoetis and retains an roughly 80% ownership of Zoetis.
Zoetis expected its IPO to price between $22 and $25 per share and raise roughly $2.2 billion total.
Pfizer Animal Health has more than 9,000 employees and markets its products in more than 120 countries. Revenues in 2011 were approximately $4.2 billion.
The name Zoetis derives from the word "zoetic," which means pertaining to life.
Zoetis has a diverse portfolio of animal health products and services for beef cattle. Here is a sampling of those products, as described by Zoetis:
• Excede (ceftiofur crystalline free acid) -- A single-administration antibiotic for the treatment and control of bovine respiratory disease in cattle.
• Draxxin (tulathromycin) --A single-dose, low-volume antibiotic for the treatment and prevention of bovine and swine respiratory disease, infectious bovine kerato conjunctivitis and bovine foot rot.
• Dectomax -- A dewormer that provides treatment and control of internal and external parasites in cattle.
• Inforce3 -- The first and only respiratory vaccine for cattle which prevents respiratory disease caused by bovine respiratory syncytial virus (BRSV). It also aid in the prevention of infectious bovine rhinotracheitis (IBR) and parainfluenza3.
• HD 50K for Angus -- The beef industry's first and only high-density DNA panel for Angus cattle.