SPINNING OFF: Pfizer Inc., the world's largest drugmaker, plans an initial public offering of shares in its animal health business to pay off debt.
THE DETAILS: The offering represents up to a 20 percent ownership stake in the business, which is named Zoetis. Regulatory filings do not detail the size of the offering or the anticipated share price. They list a proposed maximum aggregate offering price of $100 million to calculate the registration fee.
ABOUT ZOETIS: It sells more than 300 product lines in about 70 countries. The business earned $245 million last year on $4.23 billion in revenue.