Drugmaker Pfizer filed a notice with the Securities and Exchange Commission estimating that its spinoff of its animal drug business called Zoetis will fetch $22 to $25 per share in the initial public offering.
Rarely do SEC filings have pictures of horses and piglets, kittens and chicks, so if you're into that kind of thing, a link is here.
Pfizer figures it can make more money from the animal drug business by spinning it off, but only partially. The Manhattan-based global pharmaceutical company, with a big operation in Collegeville, will keep about 80 percent of the shares and, theoretically, the profits.
The shares could begin trading on Feb. 1 on the New York Stock Exchange and will have the ticker symbol ZTS.
As noted on zoetis.com, "the name Zoetis has its root in zo, which is familiar in commonly known words such as zoo and zoology. It derives from zoetic, meaning 'pertaining to life,' and signals the company’s dedication to improving the health of animals across species and around the world based on the fundamental understanding that animal and human health are inextricably linked."