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Pfizer (PFE) Said to Plan IPO of Animal-Health Unit in Early FY13

December 13, 2012 5:46 PM EST Send to a Friend
Pfizer (NYSE: PFE) shares are ticking higher in late trading Thursday, amid new talk surrounding the IPO of Zoetis.

According to the WSJ, Pfizer is planning to take Zoetis -- Pfizer's animal0-health unit -- public in January or February 2013. The IPO is expected to price somewhere around $4 billion.

Pfizer is running low on options for Zoetis; its $20 billion valuation is priced out of many potential buyers range. Pfizer attempted to divest the unit last year, saying animal-heath products didn't gel with its human-health focus.

Shares are modestly higher after hours.

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