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Research & Industry
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Revision to AVMA’s policy on acquiring research animals gets ax
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VCA Antech expands its foray into medical technology by buying Eklin
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UC Davis opens stem-cell program for horses
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Economic downturn hits veterinary practices
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Merck buys Schering-Plough
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Blockbuster Pfizer-Wyeth deal stirs veterinary medicine
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Can we eat it?
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Pet food 'human grade' claim examined
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Banfield may share data with UC-Davis
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New food safety center envisioned
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Fuel prices drop, yet surcharges remain for diagnostic services
12/18/2008
DVMs push back; Antech drafts letter to explain fees
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Fanconi-like cases continue in Australia
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Company recalls chicken treats made in China
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Self-made billionaire offers $75-million motivator to curb pet overpopulation
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Researchers seek dogs for chronic renal disease study
10/1/2008
LSU investigates statin's power to slow disease
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Veterinarian who exposed pet food toxicity earns nomination for federal award
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Dr. Renate Reimschussel honored for discovering the chemical reaction that spurred last year’s crisis
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FDA approves antimicrobial for aquaculture uses
7/11/2008
Supplemental OK involves Terramycin 200
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Pfizer-Zoetis transition shouldn't impact veterinarians, industry expert says
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June 20, 2012
By: Jim Downing
For The VIN News Service
Veterinarians likely won't notice much of a change when Pfizer Inc.'s animal health division becomes the stand-alone company Zoetis, says an animal-health industry analyst who follows the pharmaceutical industry.
John Volk, with Brakke Consulting, a Dallas-based management consultancy specializing in the animal-health sector, said that aside from the name change, the shift from Pfizer Animal Health to Zoetis shouldn't disrupt research and development or relationships with customers.
Volk noted that Pfizer's animal-health research and development center in Kalamazoo, Mich., already is fairly independent from the pharmaceutical giant's human-pharmaceutical research hub in Groton, Conn. Volk speculated that Pfizer and Zoetis might retain research ties that would give Zoetis access to molecules developed by Pfizer with potential animal-health applications.
Pfizer Animal Health employs 9,000 and recorded revenue of $4.2 billion in 2011.
Pfizer, the world's largest drug company, has been looking openly for ways to jettison its animal-health business since last summer. On June 7, the company announced that rather than selling the division, it is preparing to spin off the animal-health business into an independent company, to be called Zoetis.
Pfizer is planning an initial public offering for a minority stake in Zoetis. More details on the stock offering will be provided as part of Pfizer's second-quarter earnings announcement, according to the news release (in 2011, Pfizer released second-quarter earnings Aug. 2). Pfizer plans for Zoetis to be an standalone company by July 2013.
According to the Pfizer Animal Health website, feline and canine pharmaceuticals marketed by the company include Antisedan, Assure Parvo, Assure FeLV, Brochicine, Cerenia, Clavamox, Convenia, Dexdomitor, Felocell, Fungassay, Leukocell, Ovassy, Palladia, ProHeart, Revolution, Rimadyl, Simplicef, Temaril-P, Zeniquin, Vanguard and Witness.
On its own, Pfizer's animal-health business could be valued at $15 billion to $18 billion, according to analyst estimates cited by the Wall Street Journal and Reuters.
Pfizer said in the news release that it is spinning off the animal-health business in order to sharpen its focus on is core pharmaceutical products. Pfizer sold its infant nutrition business, a unit that made baby formulas, in April to Nestle SA for $11.85 billion. While Pfizer initially will hold a majority stake in Zoetis, analysts speculate that the company will divest completely, perhaps through a stock-exchange deal that would reduce the total number of Pfizer shares, according to the Wall Street Journal. Pfizer also has said that it may use cash from the sale of the animal-health business to repurchase shares.
Reducing the number of Pfizer shares could help to increase the company's per-share earnings as it looks for ways to replace the revenue it is expected to lose as patent protection ends for some of its top-selling products, including Lipitor. The cholesterol drug, which brought in $9.6 billion in revenue in 2011, was opened to generic competition in November 2011.
Volk, the animal-health industry analyst, noted that a long-term challenge for Zoetis will be to establish the brand cachet that Pfizer Animal Health enjoyed by virtue of being part of a company with a very strong scientific reputation.
"Because Pfizer has been associated with very important human pharmaceuticals, it has created an image of strong science," Volk said. "The onus will be on Zoetis to prove what they stand for."
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