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Ahead Of Schedule, Pfizer Prepares To Set Zoetis Free In Stock Swap

 
• By Lisa LaMotta

The Big Pharma intends to loosen its leash on its former animal health business come June when Pfizer shareholders will be given an option to swap their shares for Zoetis stock. Meanwhile, Pfizer continues its strategy to shift its focus back to the core pharmaceutical business.

In its continued effort to please shareholders by narrowing its focus back to pharmaceuticals, Pfizer Inc. announced May 22 that it will shed its remaining 80% ownership of the animal health business that it spun out in February for $2.2 billion in returns.

While the move should not be a surprise to shareholders of either company, the timing was earlier than expected. Analysts had anticipated that Pfizer would wait at least 180 days before divesting the remaining portion of Zoetis Inc

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More from United States

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• By Sarah Karlin-Smith

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Smoldering Myeloma Endpoint Questions Carry J&J’s Darzalex Faspro To US FDA AdComm

 
• By Bridget Silverman

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• By Sue Sutter

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Califf In Conversation: ‘Decimated’ US FDA Teams Endanger Innovation

 
• By Barnaby Pickering

Pink Sheet sister publication In Vivo spoke to the former FDA commissioner about the recent layoffs and their impact on vaccine and other product development.

More from North America

‘Tectonic’ Arkansas PBM Legislation May Upend Industry

 
• By Tim Casey

Industry will fight hard to prevent other states or the federal government from adopting measures similar to Arkansas' law preventing PBMs from owning pharmacies.

Will International Prices Influence Medicare Price Negotiation?

 
• By Cathy Kelly

A former CMS official suggested the most likely way it could happen is through a Center for Medicare and Medicaid Innovation demonstration.

US FDA Vaccine Framework Coming In Weeks, But Details Vague

 
• By Sarah Karlin-Smith

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