Pfizer Announces Animal Health Spin-off

Pfizer recently announced the next steps in its review of strategic alternatives for Pfizer Animal Health. Preparations are underway to file a registration statement in the U.S. for a potential initial public offering (IPO) of a minority ownership stake in Animal Health. The standalone company will be named ZoetisTM (pronounced zō-EH-tis).

The name Zoetis has its root in zo, which is familiar in words such as zoo and zoology. Zoetis is derived from zoetic, meaning "pertaining to life." Zoetis signals the company's total focus on animal health based on the fundamental understanding that animal and human health are inextricably linked.

Pfizer said the spinoff should be complete by July 2013, a deadline it had previously set.